Xometry, the largest on-demand manufacturing marketplace, raises $5 million as its eye expansion into Europe
Nickie Louise
Posted On July 11, 2019
We have written multiple stories about Xometry, the Gaithersburg, Maryland-based startup that is using its on-demand manufacturing technology to disrupt the traditional manufacturing process. The startup continues to accelerate growth since our last article to become the largest on-demand manufacturing marketplace.
Today, Xometry announced that Robert Bosch Venture Capital (RBVC) will join the company’s recently announced Series D round. RBVC joins Greenspring Associates, Dell Technologies Capital, BMW i Ventures, Foundry Group, GE Ventures, Highland Capital Partners, Maryland Venture Fund and Almaz Capital as investors in the round. This additional investment brings the total amount raised in Series D to $55 million. To date, Xometry has raised a total of $118 million in funding.
Back in May, Xometry raised $50 million Series D led by Greenspring Associates and including Dell Technologies Capital and all existing venture investors BMW i Ventures, GE Ventures, Highland Capital Partners, Foundry Group, Maryland Venture Fund & Almaz Capital.
“We’re thrilled to expand our partnership with a world-class manufacturing brand like Bosch,” said Randy Altschuler, co-founder and CEO of Xometry. “Global expansion is one of our key upcoming initiatives and we look forward to leveraging Bosch’s deep manufacturing expertise as we launch in Europe.”
“Xometry’s instant quoting engine helps drive efficiency by leveraging AI algorithms to instantly generate a price, lead time, and manufacturability feedback,” said Ingo Ramesohl, Managing Director for Robert Bosch Venture Capital.
Xometry’s industry-leading Instant Quoting Engine provides product designers the ability to simply upload a CAD file, get instant quotes and then order a wide variety of custom manufactured parts.
The orders are then sourced through Xometry’s Partner Network of over 3,000 manufacturers. Xometry’s manufacturing services include CNC Machining, 3D Printing, Sheet Metal Fabrication, and Injection Molding.
Xometry also recently launched Xometry Supplies, an online marketplace offering materials, tooling, and other supplies. Xometry Supplies makes it efficient for the partners in the Xometry Partner Network to get what they need to make high-quality parts. The site is growing quickly, adding 65,000 new tooling SKU’s in June.
Founded in 2013 by Laurence Zuriff and Randy Altschuler, Xometry is the largest marketplace for custom manufacturing, connecting customers with optimal manufacturing solutions through proprietary AI algorithms. Xometry provides on-demand manufacturing and industrial supply materials to a diverse customer base, ranging from startups to Fortune 100 companies. Our nationwide network of over 3,000 partner manufacturing facilities enables us to maintain consistently fast lead times while offering a broad array of capabilities, including CNC Machining, 3D Printing, Sheet Metal Fabrication, Injection Molding, Die Casting, Stamping, Extrusion, and Urethane Casting. Xometry’s customers include BMW, Bosch, Dell Technologies, General Electric, and NASA.
