Xometry Secures $15M Investment for On-Demand Manufacturing

BMW i Ventures, GE Ventures and Highland Capital Partners see future in on-demand platform.

(Image courtesy of Xometry.)

(Image courtesy of Xometry.)

Xometry has announced $15M USD in funding led by BMW i Ventures, with participation from existing investors including GE Ventures and Highland Capital Partners.

Fueling Xometry’s market expansion, the latest round of funding will accelerate the company’s investment in its software platform, manufacturing partner network and sales organization.

“We’re thrilled to partner with BMW i Ventures and deepen our relationship with General Electric,” said Randy Altschuler, co-founder and CEO of Xometry. “We’re accelerating our efforts to provide additional features to our online platform, making it easier for engineers and procurement managers to conveniently order a wide range of parts delivered by our expanding network of hundreds of manufacturers across the nation.”

Xometry has now raised a total to date of $38 million and recently surpassed 5,000 customers, spanning multiple verticals, including aerospace, automotive, consumer, medical devices and industrials.

This year, Xometry has already tripled its 2016 bookings during the same time-period a year ago. Xometry has correspondingly expanded its manufacturing capacity by more than five times since the end of last year.

Global manufacturers, such as GE, BMW and others, are leveraging Xometry’s platform to simplify the purchase of custom manufactured parts and to enable efficient price transparency in their procurement practices.

Commensurate with the expanded relationship, BMW i Ventures partner Zach Barasz is joining Xometry’s Board of Directors.

“Xometry is well-positioned to continue its rapid growth based on the strength of its software platform, extensive manufacturing network and seasoned management team,” said Barasz. “They quickly deliver quality custom parts to businesses of all sizes, including BMW.”

“We’re thrilled to continue to expand our relationship with Xometry. Its easy-to-use interface is being  deployed across GE business units to deliver high quality parts to a number of industries,” said Ralph Taylor-Smith, managing director of advanced manufacturing, of GE Ventures.

For more information, visit the Xometry website.