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Canadian hardware engineering collaborative platform Upverter bags $2.3M in seed funding

March 21
7:21 AM 2014

Online hardware engineering collaborative platform Upverter has closed $2.3 million in seed funding, according to VentureBeat.

Version One Ventures was the lead investor in the round. Tom McInerney, Carl Bass, David Lerner, Golden Venture Partners, and Amol Sarva also participated in the funding, the report added.

Founder and Chief Executive Officer (CEO) Zak Homuth explained to TechCrunch: "Upverter founder and CEO Zak Homuth: "People use us in a similar way to version control, but for hardware. So they do all of the collaboration, the communication, all of their internal kind of community stuff, inside of Upverter... But the pain that those companies are feeling is that they still can't communicate and collaborate within those $100,000 tools, so we're acting as a sort of a bridge between the new and old ways of working."

Upverter plans to use the seed money to expand its enterprise business. The Toronto-based startup now employs 12 workers in its team. Homuth said the company will probably concentrate on developing its product and expanding its reach, the report detailed.

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