Xomety just keeps on slamming out the hits. Early this week, the US (Maryland) based company, founded in 2013, acquired Germany ( Ottobrunn) based Shift to cement its plan of “growth initiatives, product development and global expansion” with its $50MM in equity funding early in May of 2019.
As you (should) know, Xometry has established itself in the US with a slew of on-demand manufacturing capabilities from CNC Machining, Milling, and Turning to Sheet Metal Fab, 3D Printing, and Injection Molding, along with services for finishing and design. Over the years, they built support for and integrations with SOLIDWORKS, CATIA, NX, Inventor, and PTC Creo. They have supply partnerships for raw material, tools, and components and an Instant Quote system faster than Marg in procurement can spit at you for getting the RFQ wrong again.
It’s all worked together to break down a huge mind/workplace barrier around the idea of high-quality, affordable on-demand manufacturing. So, outside of global DOMINATION, why expand to Europe? Xometry CEO, Randy Altschuler, breaks it down:
Many of our customers, like BMW and Bosch, have a global presence and we can serve more of their needs with a global network. Our AI-driven algorithms and intelligent sourcing platform give us a competitive advantage as we expand across new geographies and manufacturing technologies.”
If you’re not familiar with Shift, they’ve got a smaller set of capabilities, but central to the European market and a strong supply chain. It’s a combination that is perfectly situated for Xometry to set-up its technology–its instant quote capabilities, AI-driven algorithms, and intelligent sourcing platform–to make the on-demand dream even more real for European firms and manufacturers.
Altogether, over the past six years, Xometry has grown to a company that employs over 300 people while doubling revenue at the same time it’s making acquisitions and expanding its service and manufacturing portfolio.
In the words of the Beastie Boys, Xometry is, “rolling down the hill snowballing getting bigger.”