{"id":68078,"date":"2019-07-29T12:52:12","date_gmt":"2019-07-29T04:52:12","guid":{"rendered":"http:\/\/facfox.com\/news\/aerospace\/on-demand-manufacturing-service-xometry-raises-50-million-in-equity-funding.3dm"},"modified":"2019-07-29T12:52:12","modified_gmt":"2019-07-29T04:52:12","slug":"on-demand-manufacturing-service-xometry-raises-50-million-in-equity-funding","status":"publish","type":"post","link":"https:\/\/facfox.com\/news\/on-demand-manufacturing-service-xometry-raises-50-million-in-equity-funding\/","title":{"rendered":"On-demand manufacturing service Xometry raises $50 million in equity funding"},"content":{"rendered":"<div id=\"dpsp-content-top\" class=\"dpsp-content-wrapper dpsp-shape-rectangular dpsp-size-medium dpsp-has-spacing dpsp-has-buttons-count dpsp-show-on-mobile dpsp-button-style-1\">\n<ul class=\"dpsp-networks-btns-wrapper dpsp-networks-btns-content dpsp-networks-btns-share dpsp-column-auto\">\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><\/span><\/li>\n<li><span class=\"dpsp-network-icon\"><\/span><span class=\"dpsp-network-label-wrapper\"><\/span><\/li>\n<\/ul>\n<\/div>\n<p><span style=\"font-weight: 400;\">Xometry, a Maryland-based on-demand manufacturing and 3D printing service, has raised $50 million in equity funding. The funding round was led by Greenspring Associates, a venture capital firm in Maryland.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Randy Altschuler, co-founder and CEO of Xometry, said, \u201cWe&#8217;re planning to invest these funds behind growth initiatives, product development and global expansion.\u201d<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201cXometry\u2019s 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.\u201d<\/span><\/p>\n<\/blockquote>\n<figure id=\"attachment_139667\" style=\"width: 2048px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-139667 size-full\" src=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/09\/A-selection-of-tooling-made-by-Xometry-for-BMW.-Photo-by-Michael-Petch..jpg\" alt=\"A selection of tooling made by Xometry for BMW. Photo by Michael Petch.\" width=\"2048\" height=\"1536\" srcset=\"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/09\/A-selection-of-tooling-made-by-Xometry-for-BMW.-Photo-by-Michael-Petch..jpg 2048w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/09\/A-selection-of-tooling-made-by-Xometry-for-BMW.-Photo-by-Michael-Petch.-1024x768.jpg 1024w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/09\/A-selection-of-tooling-made-by-Xometry-for-BMW.-Photo-by-Michael-Petch.-770x578.jpg 770w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/09\/A-selection-of-tooling-made-by-Xometry-for-BMW.-Photo-by-Michael-Petch.-200x150.jpg 200w, https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/09\/A-selection-of-tooling-made-by-Xometry-for-BMW.-Photo-by-Michael-Petch.-500x375.jpg 500w\" sizes=\"(max-width: 2048px) 100vw, 2048px\" \/><figcaption class=\"wp-caption-text\">A selection of tooling made by Xometry for BMW. Photo by Michael Petch.<\/figcaption><\/figure>\n<p><b>Manufacturing on-demand<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Founded in 2013, Xometry is one of the largest on-demand manufacturing services with 2,500 manufacturing partners all over the U.S.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Xometry is known for its Instant Quoting Engine which uses machine learning to analyze the geometrical structure of the uploaded parts. Furthermore, it also studies the part to evaluate its design for manufacturability (DFM). The Instant Quoting Engine also includes SOLIDWORKS and Autodesk Inventor add-ons which can provide users with cost analysis and manufacturability feedback.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With customers like BMW, GE and NASA, Xometry has been growing rapidly. In 2017 Xometry raised $15 million. In 2018 Xometry acquired the on-demand manufacturing service MakeTime, and raised another $25 million.<\/span><\/p>\n<p>Now with the latest funding, Xometry hopes to expand its market base further.<\/p>\n<p><span style=\"font-weight: 400;\">General Partner for Greenspring Associates, Hunter Somerville said, \u201cXometry has quickly become a key player in the $80B custom manufacturing market [&#8230;] We\u2019re thrilled to invest in helping them expand the reach and breadth of their marketplace and the services it offers.\u201d<\/span><\/p>\n<p>Going forward, Somerville will also sit on Xometry&#8217;s Board of Directors.<\/p>\n<p style=\"text-align: center;\"><iframe src=\"https:\/\/www.youtube.com\/embed\/rNQS6L4HYxk\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><b>On-demand manufacturing and AI<\/b><\/p>\n<p><span style=\"font-weight: 400;\">In the latest funding round, Dell Technologies Capital participated with previous investors of Xometry, which include BMW i Ventures, GE Ventures, Boston-based Highland Capital Partners, Maryland Venture Fund, Colorado-based Foundry Group and Almaz Capital from California. With the closure of this round, Xometry\u2019s total funding now amounts to $113 million. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Daniel Docter, Managing Director Dell Technologies Capital, said, \u201cXometry is yet another example of how machine learning based intelligent software is driving huge efficiency gains across many different industries.\u201d<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">\u201cWe look forward to helping Xometry expand into new verticals that leverage the expertise of Dell Technologies.\u201d<\/span><\/p>\n<\/blockquote>\n<p>Furthermore, Xometry has also launched a new initiative called, Xometry Supplies, a shop for buying custom cut Aluminum 6061-T6 tools.<\/p>\n<p><i><span style=\"font-weight: 400;\">Vote now for the upcoming <\/span><\/i><i>2019 <a href=\"\/service\/3d-printing\"> Awards<\/a>.<\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">To learn more about how on-demand manufacturing is changing the industry, subscribe to our 3D printing newsletter and join us on Twitter and Facebook. <\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">Start a new career in manufacturing. Visit <a href=\"\/service\/3d-printing\"> Jobs<\/a> to learn more. <\/span><\/i><\/p>\n<p><i><span style=\"font-weight: 400;\">Featured image shows an array of on-demand parts created by Xometry. Image via Xometry.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Xometry, a Maryland-based on-demand manufacturing and 3D printing service, has raised $50 million in equity funding. The funding round was led by Greenspring Associates, a venture capital firm in Maryland. Randy Altschuler, co-founder and CEO of Xometry, said, \u201cWe&#8217;re planning to invest these funds behind growth initiatives, product development and global expansion.\u201d \u201cXometry\u2019s vast network, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":182348,"comment_status":"open","ping_status":"close","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"fifu_image_url":"https:\/\/3dprintingindustry.com\/wp-content\/uploads\/2018\/09\/A-selection-of-tooling-made-by-Xometry-for-BMW.-Photo-by-Michael-Petch..jpg","fifu_image_alt":"","footnotes":""},"categories":[53],"tags":[169,170,173],"class_list":["post-68078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aerospace","tag-3dprint","tag-3dprinting","tag-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>On-demand manufacturing service Xometry raises $50 million in equity funding - FacFox News<\/title>\n<meta name=\"description\" content=\"Xometry, a Maryland-based on-demand manufacturing and 3D printing service, has raised $50 million in equity funding. 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