On-Demand Manufacturing: Xometry Acquires MakeTime
July 13, 2018Comments
Xometry has acquired MakeTime, bringing together two on-demand-manufacturing platforms. The combined company will operate under the Xometry brand name with offices in Maryland and Kentucky. Drura Parrish, MakeTime founder and CEO, will join Xometry as executive vice president for platform.
The acquisition allows Xometry to grow its national partner network of manufacturers from 1100 to more than 2300 while gaining MakeTime's enterprise-product expertise and features that include the Autodesk Fusion add-in and Shop Advantage program, according to Xometry officials.
In addition, Foundry Group, one of MakeTime's investors, will lead a new $25-million round of funding for the newly combined company. Almaz Capital, BMW i Ventures, GE Ventures, Highland Capital Partners and Maryland Venture Fund also will contribute to the round. This brings the to-date total of funding raised by Xometry to $63 million.
Xometry recently has eclipsed 10,000 customers spanning multiple vertical industries, including aerospace, automotive, consumer, medical devices and industrials. Also, the company recently launched a new version of the Xometry Instant Quoting Engine, which provides instant quotes on uploaded CAD files.
