The Dzyaloshinskii-Moriya Interaction (DMI) between spins is induced by spin-orbit coupling in magnetic materials lacking inversion symmetry. DMI is recognized to play a crucial role at the interface between ferromagnetic (FM) and heavy nonmagnetic (NM) metals to create topological textures called magnetic skyrmions which are very attractive for ultra-dense information storage and spintronic devices. DMI also plays an essential role for fast domain wall (DW) dynamics driven by spin-orbit torques. Here, we present first principles calculations which clarify the main features and microscopic mechanisms of DMI in Co/Pt bilayers. DMI is found to be predominantly located at the interfacial Co layer, originating from spin-orbit energy provided by the adjacent NM layer. Furthermore, no direct correlation is found between DMI and proximity induced magnetism in Pt. These results clarify underlying mechanisms of DMI at FM/NM bilayers and should help optimizing material combinations for skyrmion- and DW-based storage and memory devices.