On-demand manufacturing marketplace Xometry announced that it has landed a $5 million investment from Germany-based Robert Bosch Venture Capital.
We are excited to announce @BoschGlobal as a new investor as they eye the next evolution in #manufacturing with Xometry. https://t.co/emblInefOV
— 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.
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