A new 3D metal printing startup is on the scene.
Fluent Metal, based in Cambridge, emerged from stealth Thursday with $5.5 million in total funding.
The company’s co-founder and CEO, Peter Schmitt, was previously a chief designer at Desktop Metal (NYSE: DM). Fluent Metal’s CFO, Elizabeth Lindaros, is also a Desktop Metal alum.
Fluent Metal says it has developed a new, more functional and more efficient way to print liquid metal. It uses a “drop-on-demand” method, which it says will give customers more flexibility.
The company uses an inkjet printer-like process, which it says will enable it to print metal parts on-demand for a variety of customer types.
"Drop-on-demand technology is an elegant approach to create complex metal components," said Schmitt in a statement. "Whether it's prototype iterations of an idea or production runs of a single part, Fluent Metal will provide customers with great operational and material flexibility. This freedom will unlock new creativity and problem solving abilities across industries."
Fluent Metal says its process is more energy efficient and produces no waste.
The company announced institutional funding of $3.2 million, led by venture capital firm E15 with participation from Pillar VC and unnamed angel investors.
Schmitt left Desktop Metal in 2020, according to his LinkedIn profile, and Lindaros departed in 2021.
The past years for Desktop Metal have been challenging, with layoffs that it said were precipitated by a 3D printing downturn, and a failed merger in September. The company's shares have fallen 70% over the past year, and haven't closed above $1 since October.
