American VC Tim Draper Invests in InventHub from Pakistan

 

InventHub, a Pakistani startup for open source hardware that features a collaborative hardware design tool for electronics enthusiasts and developers. The startup has recently managed to secure an undisclosed seed investment from venture capitalist and billionaire Tim Draper.

Draper’s portfolio of investment consists of big tech giants such as Hotmail, Skype, Tesla, SpaceX, Baidu, and Robinhood. However the seed investment figure remains unrevealed for now.

InventHub is powered by artificial intelligence to automate circuit design, the startup expands the world of hardware to experienced inventors, part-time hobbyists and students, and anyone who want to use the platform to learn, design, build, test, and manufacture their projects.The startup was previously incubated at NUST’s Technology Incubation Center.

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Juan Acosta, Director Draper University on the occasion tweeted,

“Congratulations to @IamUsamaAbid! We are proud to be @inventhub’s first investors. He came through our Fall 2018 batch. He is making the hardware design process, for hobbyists and professionals, easier than ever. Can’t wait to see the community grow.”

InventHub’s founder and CEO, Usama Abid speaking about his startup to the local news said,

“Hardware design is a messy process. Research shows that most inventors and innovators spend at least 50% of their time — depending upon their experience level — figuring out the resources and redoing the basics. One of our biggest goals is to cut down on the hardware design time. InventHub will serve as a central repository for all things hardware. As the go-to place, hardware developers can save time in the design phase to reach the commercialization phase faster, essentially changing how hardware is built today.”

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According to him, the funding from Tim Draper will be used to expand InventHub’s core team, ramping up marketing activities to increase engagement and build its open-source hardware community. The funding will also be used to create community outreach tools for manufacturers.

He further added,

“The Maker Movement is an essential element of our future and if we want to grow, we must inspire. No longer do people have to retreat to their work sheds, toiling in solitude and researching for hours. InventHub opens up the world of DIY to just about anyone, believing that whatever we make, we can build it better — and more easily — if we do it together.”

This is definitely one of the big wins the local startup ecosystem has witnessed and here’s hoping 2019 has more to see of such news coming in!