GrabCAD Grabs Cash

Estonia- and Cambridge, MA-based startup GrabCAD announced today via TechCrunch that it has raised $1.1 million in seed funding from Boston-area investors Matrix Partners, Atlas Venture, NextView Ventures, and angel investors. GrabCAD, a member of the current class of TechStars Boston startups, has developed an online marketplace for connecting mechanical design engineers with manufacturing and product development companies. Computer-aided design (CAD) might sound like a boring niche market, but look at what billion-dollar firm Parametric Technology (NASDAQ: PMTC) has done over the past 25 years.

Gregory T. Huang is Xconomy's Deputy Editor, National IT Editor, and Editor of Xconomy Boston. E-mail him at gthuang [at] Follow @gthuang

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