Xometry made its first acquisition, and it’s a big one.
Last we reported, Xometry was up to $23M in two rounds of funding. Since then, they’ve added another round ($15M in June 2017) and just this week announced another $25M bringing the total up to $63M from seven different investors.
Along with the $25M round announced this month, 18 winks, and 47 high fives, they also revealed their first acquisition: MakeTime. The Lexington, Kentucky-based company is another leading on-demand manufacturing platform like Xometry. Now, the platforms will merge under the Xometry name to create the largest on-demand manufacturing network, growing from 1100 manufacturing partners to over 2300 and increasing their user base to over 10,000 part-hungry customers.
Prior to revealing their latest round of investment this month, they also announced the Xometry Instant Quoting Engine v3.0 where you can upload a CAD file and set your material, manufacturing process, and time/cost constraint.
The new features include a re-designed summary view, instant design feedback, and part spec modification. The design feedback provides warnings that may affect manufacturing and the ability to upload supporting drawings. The spec modifications allow you to modify the quantity, process, material, finish, details, and tolerances in real-time to see how they affect cost and lead-time.
As you may know, Xometry has a SOLIDWORKS add-in, and MakeTime had Fusion 360 integration. Together, users of those 3D applications will now have expanded access to both the updated instant quoting capability and Xometry’s increased manufacturing network.
If you are a partner with Xometry, you’ll be interested to know they’ll soon be incorporating MakeTime’s Shop Advantage program with access to software, product, services, and equipment.