Xometry Announces $50MM Equity Raise Led by Greenspring Associates

最大的按需制造Xometry标记tplace, today announced it raised $50MM in equity funding, led by Greenspring Associates. Dell Technologies Capital will also participate in the round, along with all previous venture and strategic investors including BMW i Ventures, Foundry Group, GE Ventures, Highland Capital Partners, Maryland Venture Fund and Almaz Capital. Xometry has raised a total of $113MM to date.

Xometry’s vast network, massive data sets and AI breakthroughs make it easier for engineers and designers to buy custom manufacturing and help manufacturers more efficiently operate their businesses,” said Randy Altschuler, co-founder and CEO of Xometry. “We're planning to invest these funds behind growth initiatives, product development and global expansion.

Hunter Somerville, General Partner for Greenspring Associates, will join Xometry’s Board of Directors. “Xometry has quickly become a key player in the $80B custom manufacturing market,” said Somerville. “We’re thrilled to invest in helping them expand the reach and breadth of their marketplace and the services it offers.

Xometry is yet another example of how machine learning based intelligent software is driving huge efficiency gains across many different industries,” said Daniel Docter, Managing Director Dell Technologies Capital. “We look forward to helping Xometry expand into new verticals that leverage the expertise of Dell Technologies.

Xometry’s growth has continued to accelerate and revenue has doubled in the past twelve months. Xometry also launched Xometry Supplies, providing the manufacturers in Xometry’s marketplace the materials and tools they need to manufacture parts faster and at lower costs.

Source:https://www.xometry.com/

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Xometry. (2019, May 17). Xometry Announces $50MM Equity Raise Led by Greenspring Associates. AZoM. Retrieved on June 24, 2021 from //www.washintong.com/news.aspx?newsID=51224.

  • MLA

    Xometry. "Xometry Announces $50MM Equity Raise Led by Greenspring Associates".AZoM. 24 June 2021. .

  • Chicago

    Xometry. "Xometry Announces $50MM Equity Raise Led by Greenspring Associates". AZoM. //www.washintong.com/news.aspx?newsID=51224. (accessed June 24, 2021).

  • Harvard

    Xometry. 2019.Xometry Announces $50MM Equity Raise Led by Greenspring Associates. AZoM, viewed 24 June 2021, //www.washintong.com/news.aspx?newsID=51224.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit