Technology with the potential to produce complex metal components more efficiently and cheaply has underpinned the success of US-based Desktop Metal.
The firm’s groundbreaking metal 3D printing process is capable of creating components for customers in industries such as automotive and robotics quicker than rival methods. This significant competitive advantage – and the fact that, by using Desktop Metal’s equipment, manufacturers have a much greater ability to develop and iterate new products – means the company has this year been able to raise substantial amounts of extra capital from its corporate venturing backers.
In February, Desktop Metal’s series C round raised $45m from investors such as BMW i Ventures, Lowe’s Ventures, GE Ventures and GV, the Alphabet corporate venturing subsidiary formerly known as Google Ventures. This valued the company at around $350m, and took Desktop Metal’s total fundraising at that point to just under $100m.
Since then, however, the company has raised a further $115m in a series D round in July, leading to reports –…
