Already involved in a partner network of over 1,000 European manufacturers for CNC machining and sheet metal, it is easy to see how the somewhat similar company—and Europe’s largest on-demand manufacturing marketplace—will help leverage Xometry’s current plans to continue expanding throughout Western Europe.
“Global expansion is a key step for us,” said Xometry CEO Randy Altschuler. “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.”
Shift, now to become Xometry Europe, will figure in predominantly as all involved accelerate 3D printing services, increasing their combined network to include 4,000 manufacturers, and the opportunity to conduct business in 12 additional countries.
“We are thrilled to join the Xometry team,” said Albert Belousov, Shift co-founder and Managing Director of Xometry Europe. “Our customers and suppliers will benefit from us joining forces with Xometry.”
“There are huge opportunities in enabling Xometry’s Instant Quote Engine and other product features in the European market,” said Alexander Belskiy, Shift co-founder and Head of Technology for Xometry Europe.
With an existing network of customers that includes leaders in European manufacturing, Shift (now Xometry Europe) will continue to maintain headquarters in Munich. Their leading investors, Cherry Ventures, will now back Xometry too:
“The custom manufacturing industry is a massive global market of over $100 billion. We’re excited for Shift to utilize Xometry’s industry-leading technology as well as leverage the global manufacturing expertise from other Xometry investors, including BMW i Ventures and Robert Bosch Venture Capital,” said Christian Meermann, Founding Partner, Cherry Ventures.
Founded in 2013, Xometry has already raised $118 million, and doubled revenues each year. Their team has also grown from 100 to 300 employees.
“We’re eager to leverage Xometry’s technology to continue to scale our business in Europe. We look forward to providing our customers with additional manufacturing capabilities, including additive manufacturing and injection molding,” said Dmitry Kafidov, Shift co-founder and Managing Director of Xometry Europe.
Currently, Xometry works with a large customer base—from new businesses to well-established companies within the Fortune 100. With their ever-growing international network in place, Xometry can offer custom manufacturing with rapid lead times, as well as industrial supply materials, and capabilities to include the following:
- 3D printing
- CNC machining
- Sheet metal fabrication
- Injection molding
- Urethane casting
Along with the previously mentioned BMW and Bosch, other notable Xometry customers include Dell Technologies, GE, and even NASA. Xometry has remained a dynamic force within the 3D printing industry over the years, from other acquisitions to experiments with materials, and ongoing manufacturing solutions. What do you think of this news? Let us know your thoughts! Join the discussion of this and other 3D printing topics at 3DPrintBoard.com.
[Source / Images & Video: Xometry]