Xometry, the US-based operator of a manufacturing services marketplace, raised up to $14.2m on Wednesday from investors including GE Ventures, the corporate venturing arm of power and automation conglomerate General Electric.
The company did not formally disclose the size of the round, which also featured existing backers including venture capital firm Highland Capital Partners, but said it increased its overall funding to $23m.
Highland Capital led an $8.8m round in 2013 that included unnamed existing investors, but Xometry has not disclosed details of any earlier funding.
Founded in 2013 as Nextline Manufacturing, Xometry has built an online platform that gives businesses access to on-demand manufacturing services from a network of manufacturing facilities with which the company partners.
The funding will be invested in further developing the company’s software platform.
Ralph Taylor-Smith, managing director of advanced manufacturing for GE Ventures, said: “GE has been a customer of Xometry for several years and we have been impressed with the high quality of parts delivered by the network and easy-to-use interface.
“We are thrilled to see local manufacturers across the country build their businesses by being a part of the Xometry Partner Network and securing orders from coast to coast.”