BMW i Ventures has announced a strategic investment in Xometry, a leading on-demand manufacturing platform that is transforming businesses by providing product designers and engineers access to a nationwide network of manufacturing facilities.
Since launching in 2014, Xometry has continued a rapid market expansion, recently eclipsing 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.”
Mountain View-based BMW i Ventures, a corporate venture capital team founded by BMW Group in 2011, provides equity financing to high-potential start-ups and high-growth companies dedicated to shape the future of global mobility.
Through its previous investments in the fields of e-mobility, navigation, parking, car sharing and intermodality, BMW i Ventures has already entered into strategic partnerships with innovative providers such as Scoop, Zirx, RiceCell, Chargepoint, Life360, Moovit, JustPark, Chargemaster, Zendrive, Rever Moto, STRIVR, Desktop Metal, BUS.com and Proterra.