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Xometry Snags a Cool $23 Million from Investors

Monday, March 20, 2017 15:42
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(Before It's News)

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Xometry, an advanced manufacturing/prototyping software platform, has recently acquired $23 Million in investment capital from GE Ventures, Highland Capital Partners and others to help accelerate development of its advanced manufacturing platform. Put another way, the company gained a ton of funds to ramp up development of their online quoting systems and software integration to dominate the space through a curated manufacturing partner network (over 100).

According to Xometry CEO, Randy Altschuler, “[Xometry] created a marketplace by creating price clarity where none existed. We thought if you can buy groceries and order a car off the internet, then why not custom parts? Xometry is now home to the fastest-growing software driven marketplace of manufacturers. We can now accelerate our investment to meet more of our customer’s needs.”

The additional funds will also allow them to go ahead and accelerate investment to meet the increasing needs of their customers. So what does Xometry do exactly and why should you use them instead of sourcing you’re own manufacturer online?

Xometry explains their price quoting system as the most capable on the market for getting parts in your hand faster. The online platform allows you to upload a 3D model and receive instant manufacturing quote from a myriad of manufacturers, along with feedback based on your input for material, finish and lead time. One stop shopping, as it were, and all of which is generated in real-time, even as you adjust the options.

They go beyond 3D printing services, providing services for CNC machining, sheet metal fabrication, and urethane casting. What’s more, the company has a free SOLIDWORKS add-on (we’ve covered here) allowing you to access their quoting system from within SOLIDWORKS, making it easy to adjust parameters based on the pricing data.

It’s difficult to point to anyone else pushing the same level of capabilities. It will be interesting to see what Xometry accomplishes with their newly acquired gains and where they will go from here.

The post Xometry Snags a Cool $23 Million from Investors appeared first on SolidSmack.

Read more about CAD, product design and related technology at SolidSmack.com



Source: http://www.solidsmack.com/fabrication/xometry-snags-cool-23-million-investors/

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