Flow Engineering secures $8.5m in seed funding led by EQT Ventures to expand its hardware collaboration platform.
The seed round was led by EQT Ventures with backing from several prominent tech investors.
≈ £7.0M at $1 = £0.8190 on 7 Dec 2022
Flow Engineering provides a collaboration platform tailored for hardware engineering teams designing complex systems across sectors like automotive and aerospace.
London-based Flow Engineering has secured $8.5m in a seed funding round led by EQT Ventures.
The capital injection sees participation from Backed, David Hegelson, Charlie Songhust, Kyle Parrish and Matt Clifford. The company intends to direct the proceeds towards platform development and expanding its headcount from 13 to nearly 20 employees.
Founded by Pari Singh, Flow Engineering builds cloud-based software designed to help hardware developers reduce synchronisation time and accelerate time to market.
From the founder
"Today, we are going after humanity-defining problems, and hardware engineering teams are the ones working on complex projects like the development of various clean technologies. I call this group of engineers ‘new age hardware engineering teams’."
Pari Singh
CEO and Founder at Flow Engineering
Investor perspective
"Software has seen vast investment since the early 2000s, but since around 2010, serious money has been flowing into hardware – industries like electric vehicles, aerospace and medical equipment. I expect to see this continue, with a particular focus on clean technology. In order to capitalize on the market opportunity, modern hardware engineering companies will need to scale faster and come to market as quickly as possible. Those wanting to survive and thrive will need engineering collaboration platforms like Flow’s."
Alastair Mitchell
Partner and co-Head, EQT
Use of funds
- 01Continue product development
- 02Grow the team
Investors
Alastair Mitchell
EQT
Backed
David Hegelson
Charlie Songhurst
Kyle Parrish
Matt Clifford
Charlie Songhust
About the company
Flow Engineering
Flow Engineering develops a collaboration platform for hardware engineering teams.