MakeTime Inc., a Lexington, KY-based online platform offering machine capacity for immediate purchase, raised $2.65m in Series A round of funding.
The round was led by Almaz Capital with participation from Kentucky Science & Technology Corporation (KSTC). As part of the funding round, Daniil Stolyarov, Almaz Capital Investment Director, joins MakeTime’s board of directors.
The company, which has raised a total of $3.87m since its inception in 2014, intends to use the funds to increase sales, marketing, and product efforts.
Led by Drura Parrish, CEO and Founder, and Jeffrey Markowitz, COO, MakeTime operates an online marketplace that connects buyers and sellers of hourly capacity on computer numerical control (CNC) machines located across America. At MakeTime, participants can buy and sell machine time by machine type, required/available hours, hourly rate, material type and date range.
The company launched to the public in November 2014. Since then, it has added over 400 manufacturers to the platform.