Desktop Metal Buys Adaptive3D
Summary
Adaptive3D will operate as a wholly owned subsidiary of Desktop Metal, and Dr. Walter Voit, Founder and CEO, will continue to lead the business from its Plano, Texas headquarters. Adaptive3D is a provider of photoelastomers that enables additive manufacturing of rubbers, polyurethane-like, silicone-like, and rubber-like materials in consumer, healthcare, industrial, transportation, and oil and gas markets. Its core technology was developed through Defense Advanced Research Projects Agency (DARPA) funding. The company has received strategic capital from materials companies including Covestro, Arkema Group, West Pharmaceuticals, Applied Ventures, and Royal DSM. Led by Ric Fulop, Founder and CEO, Desktop Metal owns a portfolio of 3D printing solutions, from rapid prototyping to mass production.