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Framework raises $18m to move beyond modular laptop

Framework raises $18m to move beyond modular laptop

Business news |
By Nick Flaherty



US startup Framework is raising $18m to take its product range beyond modular, upgradeable laptops.

The funding includes a $17M Series A-1 round led by Spark Capital, with Buckley Ventures, Anzu Partners, Cooler Master, and Pathbreaker Ventures, as well as $1m in a community round.

The community round will see 100 accredited investors contributing $10,000 each to Framework. 

“We started just over four years ago with a vision to remake consumer electronics to respect people and the planet. We chose to take on the notebook space first to prove that it’s possible to fix even the most mature, competitive categories with an excellent product that is simple to repair, upgrade, and customize. We’ve continued to increase our sales and market share substantially each year as the industry broadly has struggled,” said Nirav Patel, founder and CEO of Framework (above). 

This follows $18m raised in 2022.

“When we closed a Series A round two years ago, we shared our strategy around fundraising, which is to raise as little as possible and focus funds on efficiently expanding the reach of our mission,” he said.

This was used for the development of a 16in laptop. The new funding will be used to deepen support for our existing customers, scaling the reach of our current products, and move into other product areas, although the company hasn’t said what these might be, although it has had a number of early partnership discussions with other startups in the investors’ portfolios.

Cooler Master is a key strategic partner-turned-investor, having been both the supplier for the Framework Laptop 16 thermal system and the first company to join the Framework ecosystem with a compatible product, a case that enables Framework Laptop Mainboard reuse. Additional collaborations with the Cooler Master team are in development.

www.frame.work

 

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