On-demand manufacturing marketplace startup Xometry launches 2D technical drawings marketplace
It’s been a while since we last wrote about Xometry, the world’s largest marketplace for On-Demand manufacturing. Xometry is changing the way you order custom parts with custom manufacturing on demand services for 3D printing, CNC machining, Injection molding, and more. Late last year, the Maryland-based acquired Munich-based Shift, the largest On-Demand manufacturing marketplace in Europe, to expand its footprint in Europe.
Today, Xometry unveiled its 2D Technical Drawing Marketplace, an innovative platform to expand access to prospective job orders for 3,000+ American machine shops. The 2D Technical Drawing Marketplace offers engineers and designers the ability to get quotes from Xometry’s network of highly-qualified U.S. shops — including ISO 9001:2015 and AS9100D-certified and ITAR registered facilities — for projects which lack 3D files. Xometry will guarantee the quality of the work.
Founded in 2013 by Laurence Zuriff and Randy Altschuler, Xometry is the largest marketplace for On-Demand manufacturing, connecting customers with optimal manufacturing solutions through proprietary AI algorithms. Xometry provides custom manufacturing and industrial supply materials to a diverse customer base, ranging from startups to Fortune 100 companies around the world. Xometry has raised $118 million since it was founded in 2013. Over the past two years, the company has grown from 100 employees to over 300 while more than doubling revenue each year.
“COVID-19 has disrupted international supply chains, and our domestic machine shops are feeling pressure as well,” said Randy Altschuler, CEO and Co-founder of Xometry. “Giving our Partner Network — top-rate American shops who are largely working in 2D already — access to 2D quotes from our strong customer base was a win-win. Manufacturers get access to new project opportunities, and US-based customers have an easy path to reshore work and restore their supply chain.”
A Xometry survey found 53% of mechanical engineers worked with parts that lacked 3D CAD files, representing a potential $37 billion market. Specifically these files are often used for legacy parts and in sectors where Diminishing Manufacturing Sources and Material Shortages (DMSMS) issues are common, such as aerospace and defense.
“Xometry is driven by the success of its Partner Network,” said Jenn Ryan, Senior Vice President, Xometry Partner Network. “We recognize this is an uncertain time for American small businesses and we want our Partners to know we are working hard to bring them new customers and new jobs. We’re expecting a heavy volume of new RFQs to come now that we service 2D.”
Xometry’s fast-growing digital marketplace has increased revenue more than 100% per year for five consecutive years. The startup has international network of over 4,000 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, and Urethane Casting. Xometry’s customers include BMW, Bosch, Dell Technologies, General Electric, and NASA.