Estonian startup Grabcad raises USD over 8 mln from investors
Eestlased USAs 18 Oct 2012  EWR
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BNS – The Estonian startup Grabcad, which offers an online community and cloud-based collaboration tools for those involved in designing and building physical products, has raised 8.15 million US dollars in a follow-up round led by Charles River Ventures.

The series B round involves a new investor, David Sacks, co-founder of Yammer and former chief operating officer of PayPal, and existing investors Atlas Venture, NextView Ventures, and Matrix Partners, Grabcad said.

The startup has now raised about 14 million dollars in total, having previously carried out a 1.1million dollar seed round and a 4 million dollar series A.

Grabcad said it will use the investment for continued development of its collaborative platform tool and increasing its team in Estonia and the Unites States.

Headquartered in Boston, with development offices in Estonia, the company currently offers an online community and marketplace for CAD engineers, along with collaborative tools to share designs and 3D models as a 'work in progress' with other engineers, along with clients, customers and other stakeholders in the design process.

Grabcad is a company founded by Estonians Hardi Meybaum and Indrek Narusk in 2010 that focuses on offering collaborative solutions for engineers on the internet.

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