BMW's i Ventures subsidiary has announced a strategic investment in Xometry, a US-based on-demand manufacturing platform that access across multiple sectors to a nationwide network of manufacturing facilities.
Since launching in 2014, Xometry claims to have enjoyed rapid market expansion, amassing some g 5,000 customers spanning multiple verticals, including aerospace, automotive, consumer, medical devices and industrials.
"We're thrilled to partner with BMW i Ventures," said Randy Altschuler, co-founder and CEO of Xometry. "We're accelerating our efforts to provide additional features to our online platform, making it easier for engineers and procurement managers to conveniently order a wide range of parts delivered by our expanding network of hundreds of manufacturers across the nation."
As part of the investment, BMW i Ventures Partner, Zach Barasz, will join Xometry's Board of Directors.
"Xometry is well-positioned to continue its rapid growth based on the strength of its proprietary software platform, extensive manufacturing network and seasoned management team," said Barasz. "They quickly deliver quality custom parts to businesses of all sizes, including BMW."
Xometry says it provides product designers and engineers the most efficient way to source high-quality custom parts, with 24/7 access to instant pricing, expected lead time and manufacturability feedback.
Xometry says it 'orchestrates a nationwide network of hundreds of partner manufacturing facilities that enables it to maintain consistently fast lead times while offering a broad array of capabilities, including CNC Machining, 3D Printing, Sheet Metal and Casting to its customers'.