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Xometry, the on-demand online manufacturing marketplace, announced that it has acquired Lexington, Ky.-based MakeTime, another leading on-demand manufacturing company. The combined company will operate under the Xometry brand name and have offices in Maryland and Kentucky.
Xometry, which is aiming to be the “Amazon of custom manufacturing,” provides a nation-wide network of manufacturing partners that specialize in 3D printing, CNC machining, and more. The acquisition will allow Xometry to grow its national partner network of manufacturers from 1,100 to over 2,300 while gaining MakeTime's enterprise product expertise and features including their Autodesk Fusion add-in and Shop Advantage program. Drura Parrish, MakeTime Founder and CEO, will join Xometry as Executive Vice President for Platform.
Foundry - Group - MakeTime - Investors - Round
Foundry Group, one of MakeTime's investors, will lead a new $25MM round of funding, Almaz Capital, BMW i Ventures, GE Ventures, Highland Capital Partners and Maryland Venture Fund will also contribute to the round. Based in Gaithersburg, Maryland, Xometry has seen its fair amount of success since its founding in 2013. In fact, the startup has now raised a total to date of $63MM since its birth.
Basically, what the company offers is an online platform that connects companies to domestic manufacturers. In other words, if a company is looking to produce a specific prototype or custom parts, it uploads the 3D file of the part to Xometry’s website and fills in a form that specifies how they want the part to be made, as well as desired materials, and more. The company...
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