HWTrek, a cloud-based platform for hardware innovators and startups, has closed a $4 million Series A round of strategic investment funding. The investment was led by WI Harper, a global leader in cross-border investments between the US and China, and ITIC, a venture capital firm specializing in the transfer and commercialization of technology in Taiwan. They were joined by Legend Star Capital, a subsidiary of Legend Holding which is the controlling shareholder of Lenovo Group, JD.com, China’s largest online direct sales company, and Global Brain, a Tokyo-based venture capital firm.
HWTrek is the answer to the dreams of every maker with a brilliant piece of hardware on their workbench. The company operates a cloud-based platform for entrepreneurs, startups and small and medium sized companies involved in hardware innovation, assisting them throughout the product development process, putting them in touch with manufacturers and supply chain experts to help them bring their projects to market.
HWTrek is planning to use the funding to expand its end-to-end platform and its services to hardware innovators. HWTrek will be able to assist more startups in the region and attract a greater variety of experts in manufacturing and supply chain technology. Based in Taipei, Taiwan, HWTrek is opening an office in Shenzhen, China later this month to strengthen its partnerships there.
“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 a prepared statement. “HWTrek has a profound understanding of the supply chain as well as a global vision for the development of hardware.”
For JD, China’s largest online direct sales company, the partnership’s value lies in HWTrek as a source of innovative smart devices originating from North America, Europe and Japan for its new JD Smart business unit.
“By addressing the challenges through deep understanding of managing product development, manufacturing and delivering innovative products to market, HWTrek has set the world to embark on its journey to be inspired by connecting hardware innovations and industry expertise,” said Peter Liu, Chairman of WI Harper Group in a statement.