BMW, Google Ventures and Lowe's invest in emerging 3D printing startup Desktop Metal

Desktop Metal is a 3D printing startup with a focus on 3D printing metals for prototypes as well as final manufactured products, and is expected to launch a product later this year. Desktop Metal has announced that it has received $45 million (roughly Rs 302 crore) in Series C funding, lead by BMW, Google Ventures and Lowe's. The startup has committed to continue developing its technologies and scale its production. Since its funding in October 2015, Desktop Metal has raised a total of $97 million (roughly 652 crore) in equity.Andy Wheeler, General Partner at Google Ventures said "The additive manufacturing industry is going through a dynamic evolution, and Desktop Metal is helping to shape that. The company has an impressive product vision, a proven team, and the right level of deep technical experience to bring the promise of metal 3D printing to life."Ric Fulop, CEO and co-founder of Desktop Metal said "Just as plastic has redefined rapid prototyping, metal 3D printing will make a profound impact on the way companies manufacture rapid prototypes and mass produce parts across all major industries. We are fortunate to have the backing of a leading group of strategic investors who support both our vision and our technology, and who are pivotal in propelling our company forward as we prepare for our product introduction in 2017."Uwe Higgen, Managing Partner of BMW i Ventures said "Advances in metal 3D printing are driving innovation across a wide range of automotive applications and we are excited to work with Desktop Metal as part of our vision in adopting additive manufacturing at BMW. From rapid prototyping and printing exceptional quality parts for end-use production, to freedom of design and mass customization, Desktop Metal is shaping the way cars will be imaged, designed and manufactured." It is a strategic investment for BMW, already one of the industry leaders in additive manufacturing in the automotive sector.Desktop Metal has a team made up of experts in material sciences, engineering and software. Fulop is the general partner at North Bridge, and early investor in leading CAD and 3D printing companies. There are four professors from MIT in the leadership team, including Ely Sachs, the inventor of binder jetting, and one of the early pioneers in the field of 3D printing. Desktop Metal hopes to make metal 3D printing cheaper, convenient, faster and better for design and manufacturing teams around the world.