Inventhub, a Pakistan- and US-based collaboration platform for hardware design, announced an undisclosed pre-seed funding round led by existing investor Fatima Gobi Ventures.
The pre-seed also saw participation from new investors including Ahmed Habib of Venture.d, Shehryar Hydri of Deosai Ventures, Yasser Bashir of Arbisoft, and Abbas Yousafzai of ConradLabs.
Existing investors who doubled down in this round include Shoaib Zahid, Kashif Shakoor, Anees Khawaja of Walled City Co, Tim Draper of Draper University Ventures, Taimur Rashid of Redis Labs, and Tayyab Malik from UBS Hong Kong.
Founded by hardware product designer Usama Abid and software engineer Usman Maqsood in 2019, Inventhub says it wants to democratize the process of electronics product design, resulting in better product quality and faster time to market.
Usama Abid, Co-founder, and CEO of Inventhub, said, “The electronics industry is made up of fragmented and siloed processes, making it difficult for individuals and smaller startups to develop new products. The explosion of digital products has also led to a new level of personalization and customization. Managing the necessary steps – from components procurement and design, to manufacturing, assembly, and distribution – is time-consuming and complex.
“Inventhub is here to change the game for developers: providing a remote-based collaboration of electronics design resources, improving productivity as well as streamlining data organization and shareability. Now, multiple designers, developers, and project owners can work cohesively across different project components including bills of material and partner resources,” he added.
Inventhub users begin by importing their electronics design files from various sources to the cloud. Stakeholders are then added to the platform for collaboration, allowing for a seamless exchange of data via various tools such as visualization, annotation, versioning, real-time updates, releases, bill of materials, and partner spaces. The platform enables designers, engineers, manufacturers, procurement, suppliers, and distributors to coordinate their work.
Ali Mukhtar, General Partner for FGV, said, “Typically, a startup ecosystem takes five to 10 years to draw investments in more sophisticated tech solutions. Just two years in, this funding round by Inventhub is a sign that Pakistan is far ahead of that curve, thanks to the country’s massive tech talent. FGV’s backing of Inventhub is, we hope, the first of many investments in Pakistan’s advanced tech space.”