Make That $55M For Xometry
Xometry has announced an additional investment into its Series D funding, bringing the total for the round to a cool $55M.
In May, Maryland-based on-demand manufacturing company Xometry announced its $50M Series D round — a major step forward with some major cash speaking loudly. That message becomes louder still today with an additional influx of cash as Robert Bosch Venture Capital (RBVC) joins the round.
The company now claims $118 million in total investment to date.
Investment In On-Demand Manufacturing
Xometry Co-Founder and CEO Randy Altschuler told us in the initial Series D announcement that the investment would include some earmarked for expansion of the company’s participation in additive manufacturing. Eventually they plan to add additional processes to their 3D printing offerings, including HP’s MJF technology.
Several 3D printing technologies are already available via Xometry’s platform, and the company has been keen to encourage customers to select the right 3D printing process for them. Of course it’s not just about 3D printing — for Xometry or for other players offering manufacturing services.
Technologies from CNC to molding have long stood as bastions of traditional production, and 3D printing is increasingly taking its place among them. And vice versa, as services that began with a strong focus on 3D printing adopt complementary technologies to further flesh out their offerings.
Ultimately, 3D printing is a tool for a job — and often it’s one of many needed. Digital manufacturing is enabling an on-demand structure for just-in-time production to get parts where they’re needed, when they’re needed.
That where they’re needed is, of course, everywhere. Localizing production through extensive partner networks enhances the ability for providers like Xometry to quickly reach their customers, cutting down on shipping times, costs, and footprint. So it’s a very good thing indeed for Xometry that investment is increasing, as a wider reach is coming within reach.
Of the additional investment, Bill Cronin, Xometry's Chief Revenue Officer, tells us:
“Bosch is a company that is transforming manufacturing across industries and continents. We are excited to have them join us."
Bosch In Advanced Manufacturing
For its part, Bosch has been deepening its investment into advanced manufacturing including additive manufacturing. In addition to direct cash investment, the company is also participating in MIT’s collaborative, multidisciplinary 3D printing consortium and, through Bosch Rexroth, is a technology partner of BigRep’s.
Especially interesting for RBVC in this deal is the development of Xometry’s instant quoting capability.
“Xometry’s instant quoting engine helps drive efficiency by leveraging AI algorithms to instantly generate a price, lead time, and manufacturability feedback,” said Ingo Ramesohl, Managing Director for Robert Bosch Venture Capital.
Once a quote has been generated, custom parts can be easily manufactured from that CAD file. These go through Xometry’s large — 3,000-plus — global partner manufacturing facilities. In addition to 3D printing, these partners offer CNC machining, sheet metal fabrication, injection molding, die casting, stamping, extrusion, and urethane casting.
RBVC says of its investment strategy:
“We invest in entrepreneurs with the vision to shape the future of human living space, whether at home, at work or on the road.”
A quick glance through their investment portfolio supports this strategy — and adding investment in Xometry supports their vision into an AI-driven smart future for manufacturing.