Manufacturing is one of the largest industries in the world. Yet buyers looking to source manufacturing processes are faced with a highly fragmented and regionalized base of sellers that are prone to supply chain disruptions, and are difficult to efficiently manage. While sellers of specialized manufacturing services are faced with limited ability to source customers, inconsistent demand, volatile operating costs, and resource constraints that put their businesses under significant financial pressure. Consequently, the sector is in the midst of a move towards digitization.
Xometry is leading this trend, transforming the industry landscape with its AI-enabled marketplace for on-demand manufacturing. It covers an enormous range of products and services including CNC machining, milling and turning services, laser, waterjet, and plasma cutting services, along with 3D printing services, smoothing, finishing, and assembly services, among many others.
Xometry uses its proprietary technology to create a marketplace that enables buyers to efficiently source parts and assemblies, whilst empowering sellers of manufacturing services to grow their businesses. It enables buyers across industries to source a broad array of manufacturing processes to meet their needs. Currently, the company generates substantially all of its revenue from the prices it charges buyers on the platform.
Historically, the industry has had to endure opaque pricing structures, long lead times, and a lack of quality controls contribute to procurement processes that are inefficient, unpredictable, and unreliable. Now, buyers can procure the products they want on demand and sellers can source new manufacturing opportunities that match their specific processes and capacity.
Interactions on Xometry’s platform also provide rich data insights that allow it to continuously improve its AI models and innovate new products and services. Creating a virtuous cycle of improving scale, which is seeing the company achieve immense growth in recent years.