Summer fun and Boston startups are doing great in exits and raising money

June 13, 2023

Summer fun and Boston startups are doing great in exits and raising money
Hi all!

Summer is coming, and we started celebrating it with some of our Boston team. Can't wait to do it more often and with more of our colleagues.
Climate tech has experienced a challenging period recently, with a significant decline of 36% in global VC deal value in the first quarter of 2023. However, despite these difficulties, there are still reasons for optimism, according to Pitchbook.

Carbon Tech is on the upswing.
The US Inflation Reduction Act has sparked increased interest, and startups involved in carbon technology are expected to benefit significantly from the legislation, which includes subsidies and a tax credit for companies utilizing carbon capture and storage technologies.
This Operations Update is provided with support from:
The State of Manufacturing

The Manufacturing PMI Index for May dropped slightly again and continues the downward trend we have seen for the past year. Orders and Backlog of Orders both have seen further degradation.

There is some good news.

Production is continuing to grow, and at least some industries have seen some price reductions.
A new “reshoring” trend is set to upend global supply chains as firms look to source products closer to home. In an analysis of S&P 500 earnings call transcripts, Bank of America said mentions of “reshoring” were up 128% in the first quarter of the year against the same time a year ago.
This Startup Update is provided with support from:
Let's start with some helpful and practical guidance from Samantha Quarantiello at IMS on how to work more efficiently with your contract manufacturer.
Everyone needs a Map
You wake up with the sun, and the air is warm, a perfect day for a walk at the nearest trail. Upon arrival, a map shows the different paths and offers guidance and direction.
Staying in the right direction when setting up documentation for a new project reduces the back and forth with your contract manufacturer. The most common questions we see regard polarity and non-populated items. 

How does your contract manufacturer decipher the diode & LED orientation? Only with your input. Ensure they have a check process in place, as different engineers indicate cathode/anode differently. Use a MAP KEY to tell them what your polarity markings (lines, bars, dots, chamfers, etc.) indicate. The best way to avoid confusion with your contract manufacturer is to use cathode/anode symbols, Ks, Cs, or As on drawings and/or silkscreen markings or include a note on your assembly drawing of what the polarity markings indicate. 

As your project progresses, a snag may occur when parts are on the board but not on the BOM. Sometimes these are not populated and have been intentionally left off the BOM. To set everyone up for success, make sure you have a Trail MAP. We have often found that parts were accidentally omitted and needed to be populated. The best way to avoid this would be by including the unpopulated locations in a non-pop list on the BOM or indicating them on the assembly drawing!

This information will reduce setbacks on your timelines and ensure that the information provided is executed the way you want. Please include this information in your next project and go ahead and navigate to success. 
Now off to what's happening funding wise:
Boston-area startups raised around $877 million in May. Gradiant, a cleantech company, raised $225 million and became a unicorn after its valuation reached $1 billion. Manufacturing startups raised $192.5 combined

As some of you may have already heard, Desktop Metal is to be acquired by Stratasys, the 3D printer maker, in an all-stock transaction valued at approximately $1.8 billion.

ClearMotion raised $32 million to work on a production order from an unnamed EV equipment manufacturer.

Harvard President's Innovation Challenge announced the 2023 winners.

The Greentown Go Make 2023 by Greentown Labs with Shell is accepting startup applications through Aug. 4!

This accelerator injects momentum and traction into startup-corporate collaborations to decarbonize the global economy.
NPA's 2023 Boston Hardware Startup Spotlight!
The best Startups in New England.
For 2023, we decided to switch up our process and provide Startup Spotlights each month on the best Startups with Hardware content in Boston.

If you know an exciting Startup that deserves a Spotlight, please send a brief message to, and we will consider them.
German Bionic is a cutting-edge robotics startup specializing in developing and manufacturing smart power suits and exoskeleton systems for industrial use.

One of their notable creations is the German Bionic Cray X, a groundbreaking exoskeleton designed to augment human strength and endurance, providing significant assistance to workers in physically demanding industries.
The German Bionic Cray X exoskeleton is equipped with intelligent sensors and lightweight carbon fiber components, allowing users to lift heavy loads with reduced effort and strain.

By analyzing the wearer's movements in real-time, the exoskeleton provides precise assistance, reducing the risk of injuries and increasing overall productivity.

At the Consumer Electronics Show (CES) 2023, they announced Apogee, a lighter and more versatile AI-supported power suit.

For more info, you can contact German Bionic here.
Our monthly survey
In our May survey, we asked which areas of your supply chain you plan to invest in this year. 16.3% of the respondents answered that they will invest in supplier management or technology.
This month, we'd like to know:
How does your startup deal with transitioning Design files/drawing to production?
Use what we generate and deal with the consequences.
Contract with a local Engineering company to create full-up production drawings.
Engage with independent contractors to create production drawings/documentation.
Engage with low-cost country engineers/firms to create production drawings.
Have your CM create your production drawings/documentation.

A SEER (Simulative Emotional Expression Robot) is a kind of expressive robot from Takayuki Todo. This robot falls squarely into the robotic uncanny valley where a human might wonder if it is actually alive. CreepyAndExcitingAllAtOnce
(Source: Hackster)

Here is an expertly curated reading list for all things AI from A16z —from how chatbots work to how to generate music from text GoDownTheRabbitHole (Source: a16z)

LSU football players will wear air-conditioned helmets during the upcoming season. Watch them react to putting the helmets on. CoolTechnology (Source: Bleacher Report)
If you want to join our Friday fun sessions, hit me up. We'll make it happen, and it is guaranteed fun.

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