Xometry: On-Demand Manufacturing Marketplace Completes $50MM Funding Round

Share this Article

Led by Greenspring Associates, Xometry has just announced $50MM raised in equity funding. Also funding the on-demand manufacturing marketplace are:

Founded in 2014 as a manufacturing startup and headquartered in Maryland, Xometry has now raised a total of $113MM, leading us to wonder how they will designate these funds in relation to research and development—a question answered succinctly by Randy Altschuler, co-founder and CEO of Xometry:

“Xometry’s vast network, massive data sets and AI breakthroughs make it easier for engineers and designers to buy custom manufacturing and help manufacturers more efficiently operate their businesses. We’re planning to invest these funds behind growth initiatives, product development and global expansion.”

Allowing for everyone to benefit from custom manufacturing, Xometry has created a successful building model for being able to produce smaller, detailed numbers of parts for consumers rather than requiring mass orders due to profitability requirements like most product manufacturers today—and especially those still using more conventional methods aside from 3D printing and additive manufacturing. The Xometry team is able to meet on-demand needs for parts to a customer base spanning from startups to Fortune 100 companies.

“Xometry has quickly become a key player in the $80B custom manufacturing market,” said Hunter Somerville, General Partner for Greenspring Associates, who will also join Xometry’s Board of Directors.. “We’re thrilled to invest in helping them expand the reach and breadth of their marketplace and the services it offers.”

Xometry maintains a network of over 3,000 partnering facilities for manufacturing, allowing them to produce parts for companies like BMW, Dell, NASA, and GE through:

  • 3D printing services
  • Traditional CNC machining processes
  • Sheet metal fabrication
  • Injection molding
  • Die casting
  • Stamping
  • Extrusion
  • Urethane casting

“Xometry is yet another example of how machine learning based intelligent software is driving huge efficiency gains across many different industries,” said Daniel Docter, Managing Director Dell Technologies Capital. “We look forward to helping Xometry expand into new verticals that leverage the expertise of Dell Technologies.”

Their growth has continued at rapid speed, with revenue doubling in just the past year. The Xometry team has also created a spin-off with Xometry Supplies—meant to offer Xometry customers with materials and tools for manufacturing more rapidly, and affordably.

We have been following Xometry’s 3D printing progress for years, since they transformed from NextLine Manufacturing into their current and dynamic state, as the largest custom manufacturing marketplace available to consumers today. From streamlining the way engineers order 3D printed parts to changing the rules in manufacturing and even guiding us in choosing the best 3D printing materials, Xometry is geared toward making life easier for engineers and designers, catering to their specific needs.

What do you think of this news? Let us know your thoughts! Join the discussion of this and other 3D printing topics at 3DPrintBoard.com.

[Source / Images: Xometry]

Share this Article


Recent News

Polyga Releases Professional Handheld H3 3D Scanning System

Lung Cancer Treatment: 3D Printing Molds for Personalized Airway Stents



Categories

3D Design

3D Printed Art

3D Printed Food

3D Printed Guns


You May Also Like

3D Printing and COVID-19, May 29, 2020 Update: Lessons for Going Forward

Companies, organizations and individuals continue to attempt to lend support to the COVID-19 pandemic supply effort. We will be providing regular updates about these initiatives where necessary in an attempt to ensure...

Featured

Virtual AM Medical Event: From Innovations to the Future of Additive Manufacturing in the Medical Industry

The American Society of Mechanical Engineers (ASME) hosted a first-of-its-kind event with experts discussing the instrumental role and impact of additive manufacturing (AM) on patient care. Originally set to take...

3D Printing Review in Drug Delivery Systems: Pharmaceutical Particulates and Membranes

Researchers from Egypt, India, and the UK are studying the role of 3D printing in drug delivery systems. Their findings are detailed in the recently released ‘Pharmaceutical Particulates and Membranes...

Sponsored

3DHEALS2020: A Not So Lonely Planet

Only a few weeks away from 3DHEALS2020, and I just got off the phone with one of our speakers, Dr. Ho, from NAMIC Singapore. Our brief interview reminded me just...


Shop

View our broad assortment of in house and third party products.


Subscribe To Our Newsletter

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our 3DPrint.com.

You have Successfully Subscribed!