HWTrek, a hub for makers to connect with hardware experts, snags $4M funding

HWTrek, a Taipei-based startup that connects hardware makers with experts to help build marketable products, today announced it has completed a US$4 million series A round of funding led by WI Harper and ITIC, followed by Legend Star Capital, JD, and Global Brain.

HWTrek acts as an end-to-end platform where a maker can turn his or her creation into an actual business. HWTrek’s Product Development Hub is a dashboard to monitor progress on getting a product out of the garage and onto assembly lines. Users can collaborate with experts to get insights on sourcing parts, applying for certifications, and finding manufacturers.

Lucas Wang, HWTrek CEO

The startup reports 2,500 creators have started 850 projects. 360 manufacturing and supply chain experts are also on board.

When we first reported on HWTrek in November 2013, it had just launched in beta as a hardware crowdfunding service. It has since dropped the crowdfunding aspect and pivoted to its current model.

HWTrek plans to open an office in Shenzhen, which is the hardware hub of China – and, arguably, the electronics factory of the world.

"There is tremendous demand for supply chain resources from hardware entrepreneurs, and HWTrek’s platform offers a more efficient system for bridging the resources of the supply chain and requirements of the startups," said Keven Wang, executive director of Legend Star Capital, in today’s statement.

Finding the next star

When a team with a product in mind signs up on HWTrek, they can invite up to 10 collaborators. "They can be members of their own team, experts from manufacturing and the supply chain on HWTrek’s platform, or members of HWTrek’s team," says the startup’s director of digital engagement, William Albano. "Additional seats beyond 10 are available. In the future there will be a fee for more seats."

A hub is generated for every project submitted by a creator. It acts as a sort of dashboard to help them understand and monitor the development of a project and generate a production schedule.

HWTrek’s experts are individuals who represent manufacturers, component vendors, design houses, etc. By helping creators develop their projects, they find opportunities for new business, see what trends are rising and falling, and spend less time evaluating projects to see if they’re worthwhile.

"Experts face the challenge of finding the next star, the next innovation, like they did before the PC and smartphone markets," Albano tells Tech in Asia. "IoT, currently a hot topic, is too broad a category to explore to find the suitable business opportunities."