US-based manufacturing services provider Xometry closed a $75m funding round on Wednesday backed by carmaker BMW, computer vendor Dell and industrial group Robert Bosch.
The round was led by fund and accounts advised by T. Rowe Price Associates and included Durable Capital Partners, ArrowMark Partners, Greenspring Associates, Foundry Group, Highland Capital and Almaz Capital.
BMW, Dell and Bosch participated through BMW i Ventures, Dell Technologies Capital and Robert Bosch Venture Capital respectively. The company said it has now raised $193m in equity funding in total.
Founded in 2013, Xometry runs an on-demand manufacturing marketplace for custom parts, using an artificial intelligence algorithm to match product designers with suitable manufacturers such as 3D printing and sheet metal fabrication services providers.
The capital will help the company accelerate growth by further developing its software and broadening its offering. Jim Rallo has joined the company as chief financial officer, having previously been president and CFO of e-commerce marketplace operator Liquidity Services.
Xometry closed a $55m series D round in July 2019 backed by Robert Bosch Venture Capital, Dell Technologies Capital and BMW i Ventures, as well as GE Ventures, the now-shuttered corporate venturing arm of power and industrial technology conglomerate General Electric.
Greenspring Associates, Maryland Venture Fund, Foundry Group, Highland Capital Partners, Almaz Capital and unnamed existing shareholders also took part in the series D round.
Foundry Group led the company’s $25m series C round in mid-2018, investing together with BMW i Ventures, GE Ventures, Almaz Capital, Highland Capital Partners and Maryland Venture Fund.
BMW i Ventures had led a $15m series B round for Xometry in mid-2017 featuring GE Ventures and Highland Capital, both having participated in a $14.2m series A round earlier the same year, Highland as an existing investor.
Image courtesy of Xometry.
