That round of investment was led by Greenspring Associates, with cash also being put forward by Dell Technologies Capital, BMW I Ventures, Foundry Group, GE Ventures, Highland Capital Partners, Maryland Venture Fund, and Almaz Capital. In total, Xometry has now raised $113m, with $55m coming from this year’s Series D round. The company is planning to harness the funds generated from this investment round to expand into Europe and hopes to lean on the knowledge of its investors to facilitate that growth.
“We’re thrilled to expand our partnership with a world class manufacturing brand like Bosch,” commented Randy Altschuler, co-founder and CEO of Xometry. “Global expansion is one of our key upcoming initiatives and we look forward to leveraging Bosch’s deep manufacturing expertise as we launch in Europe.”
Operating out of the United States, Xometry boasts a host of subtractive and additive technologies through its Partner Network of over 3,000 manufacturers. The company leverages these partners and tools to produce parts for an array of customers from the automotive sector through to healthcare. Users of the service can order parts through Xometry’s Instant Quoting Engine, which uses AI algorithms to generate prices, lead time, and manufacturability feedback once a CAD file has been uploaded.
The company now also offers an online marketplace, Xometry Supplies, which allows its Manufacturing Partners to access materials and tooling to produce the high quality parts that are distributed to the Xometry user base. Xometry added 65,000 new tooling SKUs in June alone.