Subscribe Now
GLOBAL NEWS

On-Demand manufacturing firm Xometry raises $50M in Equity Funding

1 Mins read

[penci_blockquote style=”style-1″ align=”none” author=”” font_style=”italic” uppercase=”true”]Dell Technologies Capital also participates in latest funding round to fuel continued growth for the largest on-demand manufacturing marketplace[/penci_blockquote]

Xometry, the largest on-demand manufacturing marketplace, today announced it raised $50M in equity funding, led by Greenspring Associates.  Dell Technologies Capital will also participate in the round, along with all previous venture and strategic investors including BMW i Ventures, Foundry Group, GE Ventures, Highland Capital Partners, Maryland Venture Fund and Almaz Capital. Xometry has raised a total of $113M to date.

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,” said Randy Altschuler, co-founder and CEO of Xometry. “We’re planning to invest these funds behind growth initiatives, product development, and global expansion.”

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

[penci_related_posts taxonomies=”undefined” title=”You Might Also Like to Read” background=”” border=”Blue” thumbright=”yes” number=”4″ style=”grid” align=”none” displayby=”cat” orderby=”random”]

“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.”

Xometry’s growth has continued to accelerate and revenue has doubled in the past twelve months. Xometry also launched Xometry Supplies, providing the manufacturers in Xometry’s marketplace the materials and tools they need to manufacture parts faster and at lower costs.


About Manufactur3D Magazine: Manufactur3D is an online magazine on 3D Printing. Visit our Global News page for more updates on 3D Printing Technology News. To stay up-to-date about the latest happenings in the 3D printing world, like us on Facebook or follow us on LinkedIn.

1794 posts

About author
Manufactur3D is an Indian Online 3D Printing Media Platform that reports on the latest news, insights and analysis from the Indian and the Global 3D Printing Industry.
Articles
Related posts
EDUCATION

How To Prepare For Risks In Additive Manufacturing Technology

3 Mins read
It is necessary that companies prepare for risks in additive manufacturing technology so that it does not derail their progress.
EDUCATION

How 3D Printing Is Changing the World?

3 Mins read
3D printing is changing the world as we know it. This fascinating technology allows us to create physical objects from digital designs
GLOBAL NEWS

New study reveals potential of Additive Manufacturing to reduce carbon footprint in production

1 Mins read
AMPOWER released a new study on the sustainability potential of metal Additive Manufacturing to reduce carbon footprint.