Maker of on-demand manufacturing platform secures $15 million in investments
Xometry, an on-demand manufacturing platform, announced $15 million in funding led by BMW i Ventures, with participation from existing investors including GE Ventures and Highland Capital Partners. Further fueling Xometry’s market expansion, the latest round of funding will accelerate the company’s investment in its machine learning-based 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.”
Commensurate with the expanded relationship, BMW i Venture’s 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.
Xometry has now raised a total of $38 million to date, and has recently eclipsed 5,000 customers spanning multiple verticals, including aerospace, automotive, consumer, medical devices, and industrials.