(Photo by Wikimedia Commons user Subhashish Panigrahi, used under a Creative Commons license)
On-demand manufacturing marketplace Xometry announced that it has landed a $5 million investment from Germany-based Robert Bosch Venture Capital.
— Xometry (@Xometry) July 11, 2019
Robert Bosch Venture Capital joins Owings Mills, Md.-based Greenspring Associates, Dell Technologies Capital, BMW i Ventures, Foundry Group, GE Ventures, Highland Capital Partners, Maryland Venture Fund and Almaz Capital in this Series D round of funding that Xometry first announced in May. This new raise concludes the Gaithersburg, Md.-based company’s Series D round of funding with $55 million raised.
Xometry created a platform for companies seeking to source custom parts and works with a network of machine shops and facilities that complete the manufacturing, Technical.ly DC previously reported. Its algorithm sends jobs to a list of vetted facilities that match the capabilities needed, and the platform provides price quotes as well as estimates on lead time.
Xometry plans to use its latest round of funding for further product development and international growth.
“We’re thrilled to expand our partnership with a world class manufacturing brand like Bosch,” Randy Altschuler, coofounder and CEO of Xometry, said in a statement. “Global expansion is one of our key upcoming initiatives and we look forward to leveraging Bosch’s deep manufacturing expertise as we launch in Europe.”
This latest round of funding brings Xometry’s total raise to $118 million, according to Crunchbase.
Lineup Management Services is partnering with Association Analytics
MAVA announces first 27 companies to be showcased at SURGE 2019
CoTripper takes first place at 2019 Startup Week DC pitch competition
Verizon is looking for the brightest ideas on how to use its 5G technology
Starry Internet opened an office in Arlington
Stephanie Cummings of Please Assist Me wins big at the HERImpact DC pitch competition
Localized closed on a $1.2M funding round
Escape the August heat with cool AI tech
Sign-up for daily news updates from Technical.ly Dc