After Elevating $1.3M On Indiegogo, Airtame Closes $1.4M Seed Funding To Scale Up Wi-fi HDMI Dongle
Buyers are wont to comply with. It subsequently shouldn’t be a shock to see Airtame decide up a VC spherical of funding.
The Copenhagen-based mostly startup, which is constructing a nifty wi-fi HDMI dongle to simply share your pc or telephone’s display to a TV or projector, made headlines in late 2013 for its crowdfunding efforts after elevating $1.three million on Indiegogo in simply 60 days.
So as to add to that pot money, the corporate has closed a $1.four million seed spherical led by Danish funding agency SEED Capital and Libratone-founder Tommy Andersen — cash it plans to make use of for a full product launch within the second quarter of this yr.
That’s to not say that Airtame units haven’t already begun delivery. Particularly, I’m informed that, of the 15,000 pre-orders that the startup’s Ingiegogo marketing campaign garnered, simply over three,000 models have already shipped to backers, offering beneficial suggestions to the corporate because it readies to scale up.
And scaling up is the secret right here. Whenever you smash by way of your crowdfunding goal in the best way that Airtame did, it creates a brand new set of issues, albeit good issues to have. Specifically, easy methods to scale up manufacturing a lot quicker than initially deliberate.
“Although being over-funded is superior, there’s some downsides to it as nicely,” Airtame co-founder and CEO Jonas Gyalokay tells me. “Briefly it may be summarised by the truth that scaling quick is extraordinarily onerous – and takes time. Virtually all the over-funded hardware tasks get delayed, and I feel there’s a number of causes for that.”
These embrace the truth that “hardware is tough” and after receiving so many preorders, your unique preparation “goes out the window”. “Entrepreneurs don’t heed warnings,” provides Gyalokay.
To that finish, since Airtame’s Indiegogo marketing campaign completed, it’s grown the workforce from 6 to 17 individuals, principally within the space of software program engineering. The startup has additionally signed a partnership with Jabil (the world’s third largest electronics producer), which has enabled it to start out ramping up manufacturing.