On-demand manufacturing platform has boosted its growth Xometry by acquiring MakeTime, another leading on-demand manufacturing company
Business growth
The acquisition connects two of the United States’ top manufacturing network platforms with MakeTime operating under the Xometry brand names through offices in Maryland and Kentucky.
Xometry has developed a proprietary software platform to enable product designers and engineers to access a network of manufacturing facilities. Besides from other industries, Xometry works with medical device makers, wearable tech start-ups and research labs to speed up rapid prototyping and scale manufacturing capacity.
Xometry provides production capabilities such as industrial-grade 3D printing, high-tech CNC machining processes and advanced injection moulding for rapid prototyping, product testing and more.
The company has recently reached over 10,000 customers across various industries, including medical devices, automotive and consumer.
This latest acquisition will enable Xometry to grow its national partner network of manufacturers to over 2,300 whilst also gaining MakeTime’s enterprise production expertise.
"We're thrilled to combine Xometry's online manufacturing platform with MakeTime's proven success in building a distributed network of over 1,000 manufacturers," said Randy Altschuler, co-founder and CEO of Xometry. "This acquisition will provide our customers with access to massive capacity through the industry's largest distributed manufacturing network as well enhanced product features."
"We're excited at the prospect of joining forces with Xometry," said Drura Parrish, CEO and Founder of MakeTime. "We've both been building the future of manufacturing, and now we will be able to offer small- and medium-sized manufacturers access to more jobs, more opportunities for growth and advanced products to power their businesses."
In addition to the acquisition, Xometry has raised a total of $63 million through funding rounds, with Foundry Group, one of MakeTime's investors set to lead a new $25 million funding round for the newly combined company.