Mountain View – February 6, 2017…BMW i Ventures has announced a strategic investment in Desktop Metal, an emerging startup with the mission to bring metal 3D printing within reach of all design and manufacturing teams.
Desktop Metal is committed to accelerating the adoption of metal 3D printing in manufacturing through the creation of innovative technology that produces complex parts. They are doing this with a world-class team of experts in the fields of materials science, engineering and software, consisting of 75 engineers.
"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,” said Ric Fulop, CEO and co-founder of Desktop Metal. “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.”
“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,” said Uwe Higgen, Managing Partner of BMW i Ventures. “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.”
About BMW i Ventures
Mountain View-based BMW i Ventures, a corporate venture capital team founded by BMW Group in 2011, provides equity financing to high-potential start-ups and high-growth companies dedicated to shape the future of global mobility. As a strategic investor, i Ventures aims to build strong partnerships with young start-ups with a high potential of making urban mobility smarter, more efficient and more flexible. Collaboration projects intend to create sustainable business value on both sides. Portfolio companies benefit from BMW i Ventures’ long-term experience, strong reach and the broad network of a well-established brand. Through its previous investments in the fields of e-mobility, navigation, parking, car sharing and intermodality, BMW i Ventures has already entered into strategic partnerships with innovative providers such as Carbon3D, Nauto, Scoop, Stratim, Chargepoint, Life360, Moovit, JustPark, Chargemaster and Zendrive. www.bmwiventures.com
About Desktop Metal
Desktop Metal, based in Burlington, Massachusetts, is committed to bringing metal additive manufacturing to engineering and design teams the world over. The company’s growing team of hardware and software engineers, materials scientists, and designers is addressing the unmet challenges of speed, cost, quality and convenience to make metal 3D printing an essential tool for innovation. For more information, visit www.desktopmetal.com.
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