Home News GE Ventures and Saudi Aramco Invest in 3D Printing Company Desktop Metal

GE Ventures and Saudi Aramco Invest in 3D Printing Company Desktop Metal

3D printing startup Desktop Metal received strategic investments from GE Ventures and Saudi Aramco Energy Ventures. Including their previous funding rounds, the company has raised a total of $ 52 million up to date. Investors include Kleiner Perkins Caulfield & Byers, New Enterprise Associates, Stratasys and Lux Capital.

Desktop Metal, aiming at making metal 3D printing technology easier to use and more affordable, will use the funds for product development, hiring and business operations. The company has brought together experts in fields of materials science, software and robotics to develop additive manufacturing solutions that meet performance needs of enterprises.

Ric Fulop, CEO and co-founder of Desktop Metal said: “Our company is focused on the barriers that hold metal 3D printing back: price, performance, and variety of materials. Today’s technology is where computing was in the 1970’s. It’s too costly and cumbersome to scale. We want to bring an everyday-use metal 3D printing solution to the workspace of every engineering team and we have the industry-ready team to do it.”

Additive manufacturing is crucial to accelerating innovation at GE and bringing better products to market faster. We are excited to be part of Desktop Metal’s future as they tackle these challenges to broader accessibility,” said Steve Taub, Senior Director of Advanced Manufacturing, GE Ventures.


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