Xometry, a Gaithersburg, MD-based on-demand manufacturing platform, raised $25m in new funding.
The round was led by Foundry Group, with participation from Almaz Capital, BMW i Ventures, GE Ventures, Highland Capital Partners and Maryland Venture Fund. In conjunction with the funding, Foundry Group’s Seth Levine will join Xometry’s Board of Directors.
The company, which has now raised a total to date of $63m, also acquired MakeTime, another on-demand manufacturing company. The acquisition will allow Xometry to grow its national partner network of manufacturers from 1,100 to over 2,300 while gaining MakeTime’s enterprise product expertise and features including their Autodesk Fusion add-in and Shop Advantage program. Drura Parrish, MakeTime Founder and CEO, will join Xometry as Executive Vice President for Platform.
The combined company will operate under the Xometry brand name and have offices in Maryland and Kentucky.
Led by Randy Altschuler, co-founder and CEO, Xometry provides a software platform which offers on-demand manufacturing to a diverse customer base, ranging from startups to Fortune 100 companies. It provides product designers and engineers with a new way to source high-quality custom parts, with 24/7 access to instant pricing, expected lead time and manufacturability feedback. The nationwide network of over 2,300 partner manufacturing facilities enables the company to offer a broad array of capabilities, including CNC Machining, 3D Printing, Sheet Metal Fabrication, Injection Molding and Urethane Casting.
Xometry has over 10,000 customers, spanning multiple verticals, including aerospace, automotive, consumer, medical devices and industrials, including BMW, General Electric and NASA.
FinSMEs
12/07/2018