GE And Others Invest In Desktop Metal $115 Million Round – General Electric Company (NYSE:GE)

Quick Take

GE Ventures (GE) and numerous other corporate investors have participated in a $115 million financing for Desktop Metal.

Desktop has created a family of 3D printers that work with a variety of metal additives to create customized parts for manufacturing processes.

GE is increasingly active in its investment activities as it promotes the adoption of new technologies across its numerous business lines.

Investee Company

Burlington, Massachusetts-based Desktop was founded in 2015 to improve the range of materials that could be used to create parts, from the previously widely-used plastic-based additives to metals.

Management is headed by co-founder and CEO Ric Fulop, who was previously a general partner at North Bridge Venture Partners.

Below is a brief video about Desktop Metal’s production system:

(Source: NeoMetrix Technologies)

The company is commercializing two systems:

  • Studio System – A smaller desktop 3D metal printer for engineers. The Studio system is designed for rapid prototyping and claims to be ’10 times less expensive than existing technology today.’
  • Production System – A larger footprint system designed for manufacturing scale. The system promises to be ‘100 times faster than today’s laser-based additive manufacturing systems.’

Investors in the current deal include a large syndicate of corporate investors and venture capital firms including lead investor New Enterprise Associates, GV (GOOG), GE Ventures, Techtronic Industries – Milwaukee Tool (OTCPK:TTNDY), AEG, Ryobi (OTC:RYBIF), Hoover, Oreck, VAX, Dirt Devil, Lowe’s (LOW), Lux Capital, Vertex Ventures, Moonrise Venture Partners, DCVC Opportunity, Tyche, Kleiner Perkins Caufield & Byers, Shenzhen Capital Group, and Saudi Aramco.

Investment Terms and Rationale

Valuation for the round was not disclosed by the participants, and there were no ‘whisper’ numbers in the tech press.

With the current Series D round, Desktop has raised over $210 million in funding since…

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