Xometry is a US-based on-demand parts manufacturer for services such as 3D printing, CNC machining, and injection molding with a massive network capacity comprised of over 3,000 different manufacturers and production partners with vast capabilities and certifications.
On December 3rd, the company announced its plans to acquire Europe’s largest on-demand manufacturing marketplace, Munich-based Shift, to facilitate its international expansion into 12 new countries.
Since it was founded in 2013, Xometry has raised over $118 million and over the past two years, the company has grown from 100 employees to 300 while doubling revenue year-on-year.
Shift, Europe’s largest on-demand manufacturing marketplace, focuses on CNC machining, sheet metal processing, and post-processing, has its own diverse network of manufacturers and workshops, allowing its customers to be matched with optimal machines and receive quotations quickly, often in less than one day.
Shift and Xometry company logos. Image Credit: Shift.
Accelerating International Expansion
Xometry, which raised $55 million in Series D funding earlier this year, has acquired Shift in furtherance of its goals for European expansion.
At this moment in time, exact terms of the deal between Xometry and Shift remain undisclosed. However, it does seem as though Shift’s current employees are staying on in their posts and that Shift’s three founders—Albert Belousov, Dmitry Kafidov, and Alexander Belskiy—will lead Xometry’s new European business.
Although Xometry has been tight-lipped on the specific details, the company has said that its acquisition of Shift will accelerate international expansion into 12 new countries, leveraging a worldwide network of 4,000 individual manufacturers.
Given that Xometry has plenty of European clients using its on-demand manufacturing marketplace, including the likes of BMW and Bosch, it makes sense to have stronger operations in Europe.
Europe’s Largest On-Demand Marketplace
Given Shift’s claims of having built Europe’s largest on-demand manufacturing network and marketplace that serves a customer base including some of the continent’s leading manufacturing companies, it should be little surprise that Xometry was eager to get acquire it.
In a statement, Dmitry Kafidov of Shift said, “We’re eager to leverage Xometry’s technology to continue to scale our business in Europe. We look forward to providing our customers [with] additional manufacturing capabilities, including additive manufacturing and injection molding.”
Once the deal is finalized, Shift will operate as Xometry Europe and retain its Munich headquarters.