Olivia: Big names across the tech, automotive and retail industries are putting tens of millions of dollars in Desktop Metal, the Burlington-based 3D printing startup that aims to change the way metal parts are prototyped and mass produced. The company, which is one of BostInno's 17 Boston tech companies to watch in 2017, announced on Monday that it has raised a $45M Series C round led by GV (formerly Google Ventures), as well as the venture arms of automotive giant BMW and home improvement retailer Lowe's.
Dylan: The new round — which brings the company's valuation to $305M, according to Fortune — will be used to develop Desktop Metal's 3D printing tech and prepare for mass production ahead of its launch later this year. Prior to the Series C, the company had already amassed an impressive list of who's who in the venture capital world, including NEA, Kleiner Perkins Caufield & Byers and Lux Capital, as well as the venture arms of GE, Saudi Arabian oil giant Saudi Aramco and 3D printing company Stratasys.
Ben Einstein, an early investor in Desktop Metal, previously told me that one of the company's big selling points is the ability to make metal printing faster, safer and cheaper. "If Desktop Metal can succeed, I think that totally changes the way metal is made for people doing 3D printing," he said last fall.
Olivia: Desktop Metal's team is made up of veterans in the materials science, engineering and software space. As we have previously reported, Massachusetts has increasingly become a large hub for 3D printing and computer-aided design companies, ranging from Formlabs and Z Corp to Solidworks and PTC, so it's no surprise that CEO Ric Fulop has been able to assemble an A-list team. Read more: Desktop Metal Just Raised $45M from Google, BMW & Lowe's