Bosch joins manufacturing startup Xometry's Series D round
On-demand manufacturing marketplace Xometry announced last week that Robert Bosch Venture Capital (RBVC) will join the company's recent Series D round.
Earlier investors in the round include Greenspring Associates, Dell Technologies Capital, BMW i Ventures, Foundry Group, GE Ventures, Highland Capital Partners, Maryland Venture Fund and Almaz Capital. This investment from Bosch puts Xometry’s Series D round at $55 million. To-date, the company has raised $118 million.
"We're thrilled to expand our partnership with a world class manufacturing brand like Bosch," said Randy Altschuler, co-founder and CEO of Xometry. "Global expansion is one of our key upcoming initiatives and we look forward to leveraging Bosch's deep manufacturing expertise as we launch in Europe."
"Xometry's instant quoting engine helps drive efficiency by leveraging AI algorithms to instantly generate a price, lead time, and manufacturability feedback."
Bosch welcomes the investment as an opportunity to invest in an artificial intelligence-powered platform. "Xometry's instant quoting engine helps drive efficiency by leveraging AI algorithms to instantly generate a price, lead time, and manufacturability feedback," said Ingo Ramesohl, Managing Director for Robert Bosch Venture Capital.
Xometry's Instant Quoting Engine enables product designers to simply upload a CAD file, obtain instant quotes and then order custom manufactured parts in one convenient marketplace. Xometry also handles sourcing through its partner network, which has over 3,000 manufacturers. CNC Machining, 3D Printing, Sheet Metal Fabrication, and Injection Molding are among the manufacturing services that the company offers to customers such as BMW, Bosch, Dell Technologies, General Electric and NASA.