Taipei-based Startup HWTrek Receives $4 Million Funding

HWTrek, a Taipei-based startup connecting hub for hardware experts, recently received $4 million after completing a series A round of funding. The funding was led by WI Harper and ITIC.

The firm serves as an end-to-end platform giving a hardware maker the opportunity to turn his or her product into business. Its Product Development Hub specifically caters to products made out of the garage and lodges them onto assembly lines.

Users can also collaborate with experts so they can get ideas and insights on how to look for hardware parts, apply for certifications and find manufacturers.

To date, the startup has 2,500 creators who have started 850 projects, and 360 manufacturing and supply chain experts.

In Nov. 2013, the company had just launched in beta as a hardware crowdfunding service. It has since dropped the crowdfunding aspect and pivoted to its current model.

The firm eyes to open a headquarters in Shenzhen, considered as a hardware hub of the country and the electronics factory of the world.

"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," Keven Wang, Legend Star Capital's executive director, said.

A prospect creator who wishes to sign up with HWTrek has the privilege to invite up to 10 collaborators, which can "be members of their own team, experts from manufacturing and the supply chain on HWTrek's platform, or members of HWTrek's team."

For a project submitted, a hub is generated, which serves as a dashboard to help the creator understand and check the development of a project. The platform can also help generate a production schedule.

Experts on board, meanwhile, represent component vendors, design houses and manufacturers, among others.

Projects created via HWTrek will then go on to raise money and attract clients on crowdfunding portals like Indiegogo and Kickstarter.