February 6, 2015
Y Combinator, the Mountain View-based startup seed fund, announced today that it is partnering with Bolt, a venture fund that invests in early-stage startups at the intersection of hardware and software. Bolt will advise YC hardware companies on product design, engineering, volume manufacturing, and go-to-market strategy.
YC is known for helping launch software startups such as Airbnb, Reddit, and Dropbox. The fact that the accelerator is looking at hardware startups is evidence of the growing interest in investing in hardware entrepreneurs.
According to the Wall Street Journal, the total amount of venture capital invested in electronics and computer hardware companies hit $2.56 billion in 2014, a record that eclipses the previous high of $2.24 billion in 2000.
YC startups will have the opportunity to work with Bolt’s senior engineering staff and investing partners. The partnership will supplement YC’s extensive network of partners and alumni.
Y Combinator president Sam Altman said, “Hardware is hard, and when we met the team at Bolt we knew a partnership with them would bring phenomenal value for our hardware companies.”
Bolt staff will utilize the world-class prototyping facility at their office at Autodesk’s Pier 9 Workshop on the Embarcadero in downtown San Francisco to further support YC companies in building high-potential hardware startups.
“Like Bolt, YC invests in exceptional founding teams building disruptive products,” said Ben Einstein, Bolt’s co-founder and general partner. “We’ve really enjoyed working with the teams so far.”
Bolt recently announced the closing of a $25M fund and expansion to a new facility in San Francisco. The partnership with YC marks Bolt’s expansion to the west coast, where they are actively investing in seed stage companies at the intersection of hardware and software.
Did you like this article?
Get more delivered to your inbox just like it!