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I don't work in hardware development or manufacturing, but $18M seems pretty low for breaking into an entirely new category of consumer product. Especially if
by CoastalCoder 3y ago
I don't work in hardware development or manufacturing, but $18M seems pretty low for breaking into an entirely new category of consumer product.
Especially if you're going to do that without burdening their existing laptop team.
Am I wrong?
EDIT: I'm guilty of commenting without reading the article first. See comments below for the answers to my question. Apologies.
- Timshel 3y agoWell the article mention the 13inch development was paid with $9 million seed round. And $18 million Series A later on paid for the 16. In the end it's twice as much as when they break in the laptop category.
- Archelaos 3y agoFrom the article: "Today, Framework has about 50 employees, and it plans to expand to 60 before the end of the year, with “a bit of additional team growth” in 2025." This amounts to $1M+ per new employee, which can get you pretty far. If the prototype of their new product looks promising, they may receive additional funding for production or form a joint venture.
- nrp 3y agoWe operate with extreme efficiency because we don't want to form a dependency on venture capital.