Xometry, an up-and-coming manufacturing service network offering many types of 3D print processes, took a big step into Europe today.
The Maryland-based company is not very old, having been founded in 2013. Today it is one of the fastest growing manufacturing service networks, offering CNC milling, machining, turning, sheet metal fabrication, waterjet cutting, laser cutting, plasma cutting, injection molding, insert molding, overloading, urethane casting, plus finishing and design services.
They also boast of one of the widest sets of 3D printing processes available from any service bureau, including: Carbon DLS, DMLS, FDM, HP MJF, PolyJet, SLS and SLA technologies.
All of these are supplied by their partner network, who are independent organizations with equipment, materials and skills to take on jobs routed their way through Xometry.
The company has been able to raise a significant amount from investors, now totaling US$118M. Their most recent raise was for US$55M, and at the time we were told by Xometry Co-Founder and CEO Randy Altschuler that at least some of that cash would be targeted at expansion. But we didn’t know their plans.
We do know them now.
Xometry has acquired Shift, a Munich-based marketplace for on-demand manufacturing services. Shift is apparently Europe’s largest manufacturing network, with a current network size of more than 4,000 independent manufacturers, located in 12 countries new to Xometry.
This acquisition immediately broadens Xometry’s global footprint and positions them for further expansion. If this acquisition works, then their funding could be used to collect other manufacturing networks in other regions, adding to the company’s scale.
Xometry 3D Printing
There’s one interesting twist to this acquisition: Shift currently offers only sheet metal services, including: CNC milling, machining and drilling, as well as laser, plasma and waterjet cutting, along with associated post-processing services. They do not offer casting or 3D print services.
However, we’re told that Xometry intends on using the Shift network to now add 3D print service providers to the network, and thus expand their 3D print services to Europe.
Xometry CEO Randy Altschuler said:
“Global expansion is a key step for us. 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.”
Xometry Future Expansion
This is an interesting example of the synergies that can take place in a global-level service. For global organizations such as those mentioned by Altschuler, they tend to do business with global partners to allow for smoother operations and economies of scale. In other words, by becoming bigger, Xometry should be able to attract bigger clients.
And that should in turn attract more investment to Xometry in future investment rounds. That new cash would then be used to expand into more regions, making the company even bigger, and the process repeats until they run out of planet.
Things are looking good for Xometry today.