Xometry Unveils Instant Pricing, Lead Time Offerings For Tube Cutting, Tube Bending

Rhea-AI Summary

Xometry, the global AI-powered manufacturing marketplace, is beta-testing laser tube cutting and tube bending capabilities through its AI-powered platform. Leveraging Google Cloud's Vertex AI, Xometry aims to accelerate the deployment of new auto-quote methods and models, offering instant pricing and lead times for both tube cutting and tube bending. This expansion is expected to make Xometry one of the first digital marketplaces to provide such comprehensive instant quoting for these processes.

The new offerings, set to roll out later this quarter, will utilize Xometry's extensive supplier network of industrial tube manufacturing. This development aligns with Xometry's mission to digitize manufacturing globally and provide buyers with the tools needed to produce parts and create resilient supply chains efficiently.

Positive

• Beta-testing of laser tube cutting and tube bending capabilities
• Partnership with Google Cloud to leverage Vertex AI for accelerated deployment of auto-quote methods
• Expected to be one of the first marketplaces offering instant quoting for both tube cutting and tube bending
• Expansion of marketplace offerings to digitize manufacturing globally

Negative

• None.

• Leveraging Google Cloud Vertex AI, Xometry Accelerates Deployment Of Instant Quoting Methods And Models Within Its AI Powered Marketplace
• New Tube Cutting And Tube Bending Options Give Buyers Instant Pricing, Lead Times From Xometry’s Extensive Network Of Suppliers
• Xometry Is Expected To Become One of The First Digital Marketplaces To Offer Instant Quoting For Both Tube-Cutting And Tube Bending
  

NORTH BETHESDA, Md., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Xometry, the global AI-powered marketplace connecting enterprise buyers with suppliers of manufacturing services, today announced it is beta-testing laser tube cutting and tube bending capabilities through its AI-powered marketplace.

Through its partnership with Google Cloud and Google Cloud Consulting experts, Xometry is leveraging Vertex AI to accelerate the deployment of new auto-quote methods and models on its digital manufacturing marketplace. The new tube cutting and tube manufacturing processes will offer buyers instant pricing and lead times through Xometry’s extensive supplier network of industrial tube manufacturing.

When the new offerings are rolled out later this quarter, Xometry is expected to be one of the first marketplaces to offer instant-quoting and lead times for both tube cutting and tube bending.

“Xometry is rapidly expanding its marketplace offerings as part of its mission to digitize manufacturing globally and give buyers the instant pricing and lead times they need to produce their parts and create resilient supply chains,” said Matt Leibel, Xometry’s Chief Technology Officer. “Leveraging Vertex AI, we’re able to accelerate the pace at which we develop and bring to market new auto-quote methods and models that benefit both our buyers and our extensive network of suppliers.”

“Xometry is showcasing the transformative power of AI in the manufacturing sector,” said Lee Moore, VP, Global Google Cloud Consulting, Google Cloud. “By leveraging Google Cloud’s advanced technology and consulting expertise, Xometry is accelerating innovation and building a more agile manufacturing ecosystem.”

Xometry’s two-sided marketplace plays a vital role in the rapid digital transformation of the manufacturing industry. Xometry’s proprietary technology shortens development cycles, drives efficiencies within corporate environments and helps companies create resilient supply chains. Xometry’s product portfolio includes: its industry leading digital marketplace; popular Thomasnet^® industrial sourcing platform, and cloud-based tools, including Xometry Teamspace, centralized project management software for large, mission-critical projects.

About Xometry
Xometry’s (NASDAQ:XMTR) AI-powered marketplace, popular Thomasnet^® industrial sourcing platform and suite of cloud-based services are rapidly digitizing the manufacturing industry. Xometry provides manufacturers the critical resources they need to grow their business and makes it easy for buyers to create locally resilient supply chains. The Xometry Instant Quoting Engine^® leverages millions of pieces of data to analyze complex parts in real-time, matches buyers with the right suppliers globally, and provides accurate pricing and lead times. Learn more at www.xometry.com or follow @xometry.

Media Contacts:
Matthew Hutchison
Global Corporate Communications
Matthew.Hutchison@xometry.com

IllumePR for Xometry
Xometry@Illumepr.com

Investor Contact:
Shawn Milne
Investor Relations
240-335-8132
Shawn.Milne@xometry.com

FAQ

What new capabilities is Xometry (XMTR) beta-testing in August 2024?

Xometry is beta-testing laser tube cutting and tube bending capabilities through its AI-powered marketplace, aiming to offer instant pricing and lead times for these processes.

How is Xometry (XMTR) leveraging Google Cloud's Vertex AI?

Xometry is using Google Cloud's Vertex AI to accelerate the deployment of new auto-quote methods and models on its digital manufacturing marketplace.

When will Xometry (XMTR) roll out its new tube cutting and tube bending offerings?

Xometry plans to roll out its new tube cutting and tube bending offerings later in the third quarter of 2024.

What makes Xometry's (XMTR) new offerings unique in the digital manufacturing marketplace?

Xometry is expected to be one of the first marketplaces to offer instant quoting and lead times for both tube cutting and tube bending processes.