Xometry, the on-demand manufacturing startup, has raised $15 million capital from BMWi Ventures. This is in addition to the $28 million funds raised by the firm from existing investors GE Ventures and Highland Capital Partners. The newly raised capital is expected to be use by the firm for building out its manufacturing partner network and enhancing its software platform. The startup works in the way that any company, startup or person can upload their 3D models to the Xometry platform to get instant feedback on pricing, manufacturing times, materials and the best ways to produce what has been asked for. The platform then connects the order to one of its manufacturing partners across the country, which creates and ships out the order.
Founded in 2013, Xometry has about 93 employees, but plans to expand its workforce in the coming months. Zach Barasz, partner in BMWi Venture, commented that “Xometry is well-positioned to continue its rapid growth based on the strength of its software platform, extensive manufacturing network and seasoned management team. They quickly deliver quality custom parts to businesses of all sizes, including BMW”. The Xometry platform is also being deployed across GE and for several different industries, according to Ralph Taylor-Smith, managing director of advanced manufacturing at GE Ventures.