Quilter, a circuit board design startup, secured $10 million in funding led by Benchmark, a prominent Silicon Valley venture capital firm known for early investments in tech giants like eBay and Uber.
Utilizing artificial intelligence, Quilter aims to streamline the design process for electronic components used in various devices, including rockets, computers, and smartphones.
The Series A funding round, undisclosed in valuation, positions Quilter to leverage AI technology similar to Google’s prowess in defeating a Chinese Go master.
Quilter’s software continuously improves its circuit board design capabilities, with plans for complete automation to accelerate production from months to weeks or days, reducing costs and enhancing efficiency.
CEO Sergiy Nesterenko emphasizes the complexity of the remaining 10% of circuit board design work, challenging traditional manual processes. The global market for printed circuit board design, estimated at $40-50 billion, presents substantial growth opportunities, with labor costs comprising the majority of expenses.
Despite competition from established players like Cadence Design Systems, Quilter’s innovative approach promises disruption in the circuit board design landscape.
Benchmark’s Eric Vishria underscores the significance of AI-driven automation in meeting the growing demand for electronics worldwide, positioning Quilter for transformative impact in the industry.
