3D printing company Desktop Metal adds $575 million in capital to advance its efforts to reshape the manufacturing sector.
Additive manufacturing, also known as 3D printing is no longer a fad in truck making. Companies are making greater use of the technology to save time and money although the technology itself is still expensive.
Fast Radius, a leading manufacturing technology company, has announced its Series B financing round of $48 million led by UPS, with strong insider participation from Drive Capital.
Desktop Metal, an additive manufacturing [3D printing] firm which specializes in metal printing, announced last week that it raised $160 million from a financing round led by Koch Disruptive Technologies (KDT), a subsidiary of Koch Industries.
Lattice materials can be used to manufacture stronger yet lighter objects through the technique of additive manufacturing. A good place to start would be the automobile industry, which could do well with reducing its dead weight for improved fuel efficiency.
“It’s not just about cars and satellites and cereal,” says CEO Lou Rassey. “It’s about feeding and empowering the world with the things we make. That’s the heart of Fast Radius.”
Sponsored by LaunchIt Public Relations…Alan Amling, director of UPS’s Global On-Demand Manufacturing Initiative pursues the benefits of on-demand additive manufacturing.
