Total amount raised
$45 Millions
Latest funding date
04/01/2024
Location
Framework has successfully raised funding through a Series A round, with notable investors such as Anzu Partners and Buckley Ventures backing the company. The last funding round closed on April 23, 2024.
Keep reading to explore the intricacies of Framework's fundraising journey and the investors supporting this innovative platform.
What Is Framework?
Framework, founded in December 2019 by Nirav Patel, is based in San Francisco, California. The company specializes in designing high-performance consumer electronics that are easy to repair, upgrade, and customize. With a team of 51-100 employees, Framework aims to revolutionize the consumer electronics industry with products like the Framework Laptop 13 and Framework Laptop 16.
How Much Funding Has Framework Raised?
- Seed Round
- Amount Raised: $9M
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their repairable and upgradeable consumer electronics.
- Series A
- Amount Raised: $18M
- Date: February 2022
- Lead Investors: Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand the product lineup.
- Series A-1
- Amount Raised: $17M
- Date: April 2024
- Lead Investors: Spark Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bring in strategic connections and expertise, and to enable community investment.
- Equity Crowdfunding
- Amount Raised: $1M
- Date: April 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To engage the community and allow smaller investors to participate.
Total Amount Raised: $45M. Current Valuation: Not publicly disclosed.
Key Investors
- Spark Capital
- Details: Spark Capital is a venture capital firm that invests in early-stage startups. They led the Series A-1 funding round for Framework.
- Investment Focus Areas: Consumer electronics, technology, media.
- Notable Investments: Twitter, Oculus, Slack.
- Buckley Ventures
- Details: Buckley Ventures is a venture capital firm that participated in Framework's funding rounds. They focus on innovative technology companies.
- Investment Focus Areas: Innovative technology, startups, early-stage companies.
- Notable Investments: Not publicly disclosed.
- Anzu Partners
- Details: Anzu Partners is a venture capital and private equity firm. They invest in breakthrough industrial and life sciences technologies.
- Investment Focus Areas: Industrial technologies, life sciences, advanced materials.
- Notable Investments: Not publicly disclosed.
- Cooler Master
- Details: Cooler Master is a computer hardware manufacturer and investor. They supply the thermal system for Framework's Laptop 16.
- Investment Focus Areas: Computer hardware, peripherals, cooling solutions.
- Notable Investments: Known for its own product lines in computer hardware.
- Pathbreaker Ventures
- Details: Pathbreaker Ventures is a venture capital firm that invests in early-stage technology companies. They participated in Framework's funding rounds.
- Investment Focus Areas: Early-stage technology, innovative startups, disruptive technologies.
- Notable Investments: Not publicly disclosed.
What's Next for Framework?
Framework is poised to capitalize on the growing demand for repairable consumer electronics. With a recent $17 million Series A-1 funding round, the company is well-positioned to expand its product line and leverage strategic partnerships. The opportunity for community investment, allowing up to 100 members to invest $10,000 each, further underscores the company's commitment to engaging its user base.
Future fundraising efforts may focus on attracting more strategic partners and venture capital firms, bolstering Framework's mission to revolutionize the consumer electronics industry. However, challenges such as meeting SEC’s Accredited Investor qualifications and navigating a competitive market could pose hurdles. Despite these challenges, Framework's innovative approach and strong investor backing suggest a promising path forward.
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