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NextFab Ventures is a pre-seed, hardware-focused catalytic investor and product development partner based in Philadelphia, Pennsylvania. Founded to support hard-tech startups, NextFab provides seed capital along with hands-on engineering and business support. Their mission is to reduce early technical risk, accelerate product development, and assist teams in achieving the necessary milestones for securing major financing rounds.
As of now, NextFab Ventures manages a portfolio of 10 companies and operates with a focus on sectors such as robotics, agtech, and healthcare. The firm has established itself as a key player in the Philadelphia innovation ecosystem, leveraging local resources and expertise to support its portfolio companies. Notable milestones include their active participation in the Ben Franklin Technology Partners network and membership in the National Venture Capital Association (NVCA).
NextFab Ventures invests primarily in hard-tech sectors, including robotics, agtech, and healthcare. Their investment strategy targets startups that face early technical risks that may hinder funding opportunities. The firm provides seed capital, typically around $100,000 per investment, which includes $60,000 in cash and $40,000 in-kind support for product development and business services.
NextFab's approach combines financial backing with technical expertise and business guidance. They facilitate access to contract manufacturers and advisors, which helps startups transition from concept to validated prototype. The firm emphasizes the importance of having a physical prototype and completing customer discovery as prerequisites for investment. Their geographic focus is primarily on North America, particularly the mid-Atlantic region, although they are not exclusively limited to this area.
NextFab Ventures has invested in a diverse range of notable companies, including:
These companies represent a blend of innovation across cleantech, agtech, and healthcare, showcasing NextFab's commitment to supporting startups that address significant technical challenges.
Dr. Evan Malone - President: Dr. Malone has a background in engineering and entrepreneurship, leading NextFab Ventures with a focus on hard-tech innovation.
Todor Raykov - Managing Partner: Raykov serves as the Director of Venture Services, bringing extensive experience in venture capital and startup development.
Matt Bell - Venture Partner: Bell contributes his expertise in business strategy and operations to support portfolio companies.
Nick Gallagher - Industrial Designer, Fabricator (Technical Advisor): Gallagher provides design and fabrication expertise to help startups refine their products.
Alex Numann - Lead Mechanical Engineer (Technical Advisor): Numann offers mechanical engineering support to assist in product development.
Ruth Schanbacher - HR Consultant: Schanbacher advises on human resources and team building for portfolio companies.
Matt Starfield - Senior Electrical Engineer (Technical Advisor): Starfield provides electrical engineering guidance to enhance product functionality.
Jonathan Knauer - Advisor: Knauer offers strategic advice based on his extensive industry experience.
David Wargo - Advisor: Wargo provides insights into market trends and business development.
Ben Williams - Advisor: Williams contributes his expertise in technology commercialization and startup growth.
Startups interested in pitching to NextFab Ventures should use the Gust application portal. They should include a comprehensive pitch deck that outlines their technology, market opportunity, and team qualifications. NextFab Ventures typically responds within a few weeks of submission, and they prefer warm introductions when possible.
NextFab Ventures has been actively investing in hard-tech startups, targeting 4-5 new portfolio companies each year at the pre-seed and seed stages. Their portfolio companies have collectively raised over $62 million in follow-on capital, demonstrating the effectiveness of their investment strategy.
Recent highlights include significant investments in companies like Burro and Flux Marine, both of which are making strides in their respective sectors. NextFab Ventures continues to position itself as a leading investor in the hard-tech space, focusing on startups that address critical technical challenges.
What are NextFab Ventures' investment criteria?
NextFab Ventures primarily invests in hard-tech startups at the pre-seed and seed stages. They look for teams of at least two founders, a physical prototype, and completed customer discovery.
How can startups apply or pitch to NextFab Ventures?
Startups can pitch through the Gust application portal, specifically under the 'Hard Tech Investors' program. They should include details about their technology, team, and market potential in their pitch deck.
What makes NextFab Ventures different from other investors?
NextFab Ventures combines seed capital with hands-on engineering and business support, providing access to a network of industrial designers and engineers to help startups navigate technical challenges.
What is the geographic scope of NextFab Ventures?
While NextFab Ventures is based in Philadelphia and focuses on the mid-Atlantic region, they are open to investing in hard-tech startups across North America.
What is the typical check size for investments?
NextFab Ventures typically invests $100,000 per startup, which includes both cash and in-kind support for product development and business services.
What kind of post-investment involvement can startups expect?
NextFab Ventures engages deeply with its portfolio companies, providing ongoing support through access to technical resources, business guidance, and assistance in achieving critical milestones for future financing rounds.
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