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-AllSpice.io, Git for Hardware Platform Achieves $10M in Venture Funding to Grow Enterprise Customer Base and Modernize Electronics Design Collaboration
BOSTON, Dec. 13, 2023/PRNewswire/ -- AllSpice.io, the hardware development platform that enables engineers to modernize their collaboration and workflows, has raised an additional $6 million in venture capital. The funding is being leveraged to develop new features for its growing enterprise customer base and expand complex implementations and integrations and additional support for ECAD formats.
Investors participating in the recent round included Root Ventures, Flybridge Capital Partners, Benchstrength, Bowery Capital, and a group of angel investors.
Founded and built by engineers, AllSpice.io enables other engineers to modernize their workflows, all through the power of Git. With automation, cross-team collaboration, and version control, engineers can develop hardware more efficiently.
"After decades of stagnant toolsets, companies have a strong appetite to modernize their electronic design processes. In a tough market, driving greater team efficiency is crucial," said Valentina Ratner, co-founder and CEO of AllSpice. io.
Today's hardware teams have more complex requirements and constantly evade delivery deadlines. "Twenty years ago a car had about a dozen PCBs, now it's hundreds," said Kyle Dumont, co-founder and CTO of AllSpice.io. "As an electrical engineer before creating AllSpice.io, I experienced these same significant challenges in creating a hardware design and review process that could proactively adapt to changing operational and business requirements."
Hardware products used to require many years of research and development. Nowadays, if companies take so long, by the time they launch the technology it is already obsolete.
“We see these challenges coming from engineering leaders at companies reaching out to us,” Ratner continued. "Hardware development timelines have been reduced from years to months over the past decade, meaning hardware and electrical engineering teams must be 10 times more efficient, but their tools have remained largely the same."
AllSpice.io serves as a foundation for hardware teams, similar to what GitHub, GitLab, and Bitbucket have done for software teams.
Hardware engineers, PCB designers, and electrical engineers are the main users of the AllSpice.io platform. Additionally, other teams and third parties working in parallel to these counterparts also collaborate on the platform, including firmware engineers, software engineers, contract manufacturers, and procurement departments.
AllSpice.io customers range from startups to Fortune 500 companies in the robotics, instrumentation, aerospace, consumer electronics, transportation, medical device, and automotive industries.
Purpose of funding
AllSpice.io is a hardware collaboration platform that connects native engineering design tools to provide easy Git-based revision control, a hub for cross-team collaboration, workflow automation, and design analysis.
Business development/business consultations
Co-founder and CEO
Co-founder and head of technology
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