GrabCAD Grabs Cash

6/8/11

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 the Editor of Xconomy Boston. You can e-mail him at gthuang@xconomy.com or call him at 617-252-7323. Follow @

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  • http://grabcad.com Siim Teller

    You’re spot on with the point that CAD is not a niche market. Yes, it’s not visible like consumer market mobile-social-location stuff but pretty much everything around us, everything we use has been designed in a CAD software by an engineer before it went into manufacturing. So the “niche market” is actually a big one.