GrabCAD, one of the hot startups currently coming out from Estonia, has announced that they have landed a $1.1 million in funding from top-tier investors. Matrix Partners, Atlas Venture, Next View Ventures and angels John McEleney, Alex Ott, Angus Davis and Jon Stevenson invested into the company. GrabCAD has been a very active startup in the recent year or so as they’ve both taken part in Seedcamp, but also the TechStars programs.
According to Hardi Meybaum, the investment will be used for expansion and hiring. He stated to TechCrunch that “our plan is to be the biggest mechanical engineering team in the world”. By that he most probably meant that they themselves don’t necessarily need to grow so big, but their network has to be the biggest in the world.
The team is currently situated in Boston, but it has originated from Estonia. Half of the team are Skype alumni and living proof how a healthy startup ecosystem keeps on pumping new innovation over the years.
GrabCAD has been one of my personal favorites coming out from Estonia and I could see it already a year ago that this company will go far. It’s great to see that hope materialise in this way.