Hardware platform InventHub raises Seed funding round
InventHub, a collaborative electronics design platform with parts and design database and tools, has raised a Seed funding round, led by Pakistan's Fatima Gobi Ventures, along with WalledCity Ventures, Taimur Rashid, and numerous angel investors. They join Draper University Ventures as the investors backing InventHub's vision.
The startup operates as a remote-first company, headquartered in the US and spread across the world.
Get the Top Startup Stories directly to your inbox! Subscribe to MAGNiTT Newsletters
InventHub is a cloud-based, unified product data management solution that focuses on providing companies with faster release management and quality control of product design data. InventHub achieves this accelerated life-cycle management by implementing in their product a smart BOM that evolves with the product, a supply chain integrated manufacturing hub, and a dedicated library manager.
With increasing consumer demands and a pandemic disrupting work and life globally, InventHub believes that the hardware development process needs to be open, standard, and collaborative to cope with changes and various stakeholders. In a nutshell, the industry needs a lifecycle and data management solution that fully integrates with supply chains which further enables the design, development, and commercialization of hardware products all in one place.
Discover more than 40 Pakistan-based IT Solutions startups on MAGNiTT
InventHub's vision is to help usher in borderless development, something that is increasingly becoming essential for post-pandemic life. They're operating as a remote-first company, with a team of 15 consisting of a diverse group of passionate engineers and marketers, with a shared vision for the future of hardware tooling and the unrelenting drive to realize that vision. The startup is led by CEO Usama Abid, an electrical engineer-turned-entrepreneur who previously founded DIY GEEKS, and whose experience in building hardware products and working with hardware companies is what first planted the seeds that would eventually become InventHub.
Commenting on the round, Ali Mukhtar, General Partner of Fatima Gobi Ventures said, "Collaborative hardware development has been attempted several times, but those attempts weren't as concentrated and didn't catch on with the industry. InventHub leads the new wave of collaborative tooling and has the potential to really change how we make hardware products."
InventHub is seeking to bring accelerated lifecycle management to hardware products. This round will help InventHub achieve a more robust and stable product as they scale and grow their customers and user-base while adding and refining features to the overall product that will eventually standardize hardware development processes.
Are you a startup looking for investment? Apply for funding to 100+ investors now.