Xometry, a Gaithersburg, MD-based on-demand manufacturing marketplace, raised $50M in equity funding.
The round, which brought total funding raised to date to $113m, was led by Greenspring Associates, with participation from Dell Technologies Capital and previous venture and strategic investors BMW i Ventures, Foundry Group, GE Ventures, Highland Capital Partners, Maryland Venture Fund and Almaz Capital. In conjunction with the funding, Hunter Somerville, General Partner for Greenspring Associates, will join Xometry’s Board of Directors.
The company intends to use the funds for growth initiatives, product development and global expansion.
Led by Randy Altschuler, co-founder and CEO, Xometry is a marketplace for custom manufacturing, connecting customers with manufacturing solutions through proprietary AI algorithms. The company provides on-demand manufacturing and industrial supply materials to a diverse customer base, ranging from startups to Fortune 100 companies. Its nationwide network of over 3,000 partner manufacturing facilities offers a broad array of capabilities, including CNC Machining, 3D Printing, Sheet Metal Fabrication, Injection Molding, Die Casting, Stamping, Extrusion, and Urethane Casting.
The company also launched Xometry Supplies, providing manufacturers in Xometry’s marketplace with materials and tools to manufacture parts faster and at lower costs.
Customers include BMW, Dell Technologies, General Electric and NASA.
FinSMEs
13/05/2019