Digital manufacturing startup Xometry raises $15 million from BMW and GE

Xometry, a digital manufacturing startup which is known as “Uber of Manufacturing”, has raised $15 million from BMW, GE and Highland Capital Partners to expand its technology prowess. Randy Altschuler, CEO of Xometry, commented that “When you talk about the long tail of the internet that has helped retailers, for example – through Amazon and other sites, they can sell their products across the country, when previously they were just very local storefronts – that opportunity hasn’t existed for manufacturers”. He further added that “Xometry is a platform which unlocks that and allows all these manufacturers across the country, with tremendous skill sets and with billions of dollars invested in machinery, to use those skills and help customers across the country”.

The company has 5,000 customers using its product in fields such as aerospace, automotive, industrials and medical equipment. Using Xometry’s software, buyers can create something in a 3-D CAD file, upload it to the site, and you can be given a price right away on how much that would cost and a delivery date. The startup, based out of Gaithersburg in Maryland, employs 90 people and aims to target $70 billion of addressable market.