Shift has its core expertise in CNC machining and sheet metal processing and utilises a partner network of some 1,000 manufacturers across Europe. As Xometry has sought to move into the European market off the back of significant venture capital funding this year, it has identified Shift as the perfect partner to drive its play in the region.
As a result of the acquisition, Shift GmbH will function as Xometry Europe. The move brings Xometry closer to its European customers, while integrating a range of additive manufacturing technologies into Shift’s operations. Xometry’s AI-powered Instant Quoting Engine will also be available to European customers per the company’s expansion.
“Global expansion is a key step for us,” commented Xometry CEO Randy Altschuler. “Many of our customers, like BMW and Bosch, have a global presence and we can serve more of their needs with a global network. Our AI-driven algorithms and intelligent sourcing platform give us a competitive advantage as we expand across new geographies and manufacturing technologies.”
“We’re eager to leverage Xometry’s technology to continue to scale our business in Europe,” added Dmitry Kafidov, Shift co-founder and Managing Director of Xometry Europe. “We look forward to providing our customers additional manufacturing capabilities, including additive manufacturing and injection moulding.”
Xometry harnesses a host of additive manufacturing technologies across both metal and polymer disciplines. The company this year announced its adoption of Carbon’s Digital Light Synthesis technology, supplementing its already-houses fused deposition modelling (FDM), stereolithography (SLA), selective laser sintering (SLS), PolyJet and Multi Jet Fusion capabilities. On the metal side, Xometry is able to additively manufacture parts in aluminium and steel materials. This additive manufacturing will gradually be introduced throughout Europe via Shift.
Another feature of the acquisition is the promise of more venture funding for Xometry. Cherry Ventures, among the lead investors of Shift, will provide financial support to Xometry as part of the agreement.
“The custom manufacturing industry is a massive global market of over $100 billion,” said Christian Meermann, Founding Partner, Cherry Ventures. “We’re excited for Shift to utilise Xometry’s industry-leading technology as well as leverage the global manufacturing expertise from other Xometry investors, including BMW I Ventures and Robert Bosch Venture Capital.”