U.S. News & World Report has announced what it considers a major commitment to manufacturing by big names such as BMW and GE.
Both companies just pledged millions in funding for what’s being referred to as “the Uber of manufacturing” – a Maryland-based company called Xometry.
The company’s co-founder and CEO Randy Altschuler describes the platform as basically a way for the internet to better support small manufacturers of custom products, much like sites like Amazon serve as a marketplace for retailers to cast a wide net.
Thus far, this type of opportunity has not existed for manufacturers, Altschuler said, at least not in the way that people need it. He describes a scenario where a user, rather than picking pre-developed products off a virtual shelf, can create their own and send it out for bidding.
Xometry’s own website describes it this way: Users simply upload their 3D models and the Xometry software platform provides instant feedback on pricing, lead times, and the best processes to make those custom parts. Users can then explore various materials and manufacturing processes and compare prices in real-time.
The company’s proprietary sourcing algorithm is designed to ensure low cost and fast lead times by utilizing manufacturing capacity through its network of highly-vetted facilities, providing capabilities like CNC machining, 3D printing, urethane casting, and sheet metal fabrication.