American SaaS (software as a service) startup Inventhub is disrupting the electronics manufacturing industry by offering a cloud-based collaboration platform that allows users to maximise productivity, maintain quality and commercialise products faster.
Led by Pakistani innovators Usama Abid and Usman Maqsood, Inventhub is competing with industry behemoths who are valued in billions of dollars, yet Inventhub seeks to fundamentally alter how electronic hardware products are designed.
Distinguishing itself from its competition through its unique developer utilities and integrated multi-stakeholder collaboration platform, Inventhub enables product teams to work together in real-time and commercialise their products faster.
Such a collaborative system does not exist in the market and Inventhub’s team is confident that customers will fully maximise the utility of their product.
With over 6000 active users and several companies buying their product, Inventhub has already created ripples, exhuming its potential as a major disrupter. This proceeds the commercial launch of the new tool-set earlier this year in March announced by the company.
The company also benefits from the expertise of co-founder Usama Abid, who has a long history working as a technology entrepreneur, primarily focusing on hardware. As an engineer turned entrepreneur, Usama is able to understand the problems faced by most of his customers and has been successful in providing a one-stop solution.
Before founding Inventhub, Usama built DIY Geeks, a startup that focused on robotics education in Pakistan, pioneering in a country where robotics still has not developed compared to other regional countries. Usama now leads a team of over ten people who are focused on reorienting the electronics manufacturing industry.
Besides working as a startup founder, Usama has also worked as a hardware design consultant for American and European startups, helping them design their commercial hardware products, primarily in the realm of IoT, robotics and wearables.
Usman Maqsood, Co-Founder and Chief Technology Officer at Inventhub is also an engineer-turned-entrepreneur. He has used his skills to successfully build a transformative product for the electronics manufacturing industry.
Usman’s key focus has been to improve the experience of collaborations among electronics hardware engineers working in the hardware industry by building a simple and integrated solution.
The hard-working CTO of Inventhub actively promotes open source development by building tools that offer reusability and better collaboration so that people can solve bigger problems together and more easily.
Before co-founding Inventhub, Usman worked in multiple companies like Eventbrite, AVA technologies, in North America under product and engineering roles.
Inventhub, which works on a SaaS (software as a service) model has attracted the attention of investors across the world who have invested a significant but undisclosed amount to ensure the company reaches its potential.
US billionaire Tim Draper who is the first backer of Inventhub in 2019, through Draper University Ventures, said: “The total cost of ownership in in-house systems is falling and borderless collaboration in the electronics hardware industry isn’t widespread enough.”
The billionaire investor who has invested in many startups believes that currently, the vision of collaboration in the industry lacks process experience.
“This is one of the many parts InventHub has been focusing on. I believe Usama has listened to the market and has positioned InventHub well to be a category leader in electronics hardware,” Draper said.
He added: “Inventhub will centralize the community of hardware entrepreneurs, allowing this budding industry to grow exponentially. This is especially important as we enter the age of the Internet of Things and robotics, where outside-the-box thinkers and tinkers will be necessary to foster innovation, as well as competition with traditional corporations and research facilities.”
In an exclusive conversation with The Pakistan Daily, a representative from Fatima Gobi Ventures said: “We believe that the future of electronics hardware is a streamlined, smart and sustainable process. This is where Inventhub comes in to empower individuals and companies to collaboratively take an idea from a sketch to a market-ready product. Inventhub’s team under the leadership of Usama and Usman are well on their way of leading the vision on collaboration in the electronics hardware space.
Research suggests that every year a whopping $40 billion and 1.5 billion hours are spent globally on circuit board design work.
The minimum spend for failed design prototypes is $5000 which includes hours of employees, manufacturing and shipping cost because of poor mistakes due to lack of better tools and visibility.
If there is a manufacturing defect, the costs can rise much higher.
This is one of the reasons why investments in the electronics manufacturing industry have risen rapidly in recent times.
Another reason is COVID-19, which has created the requirement for remote solutions for the electronics manufacturing industry.
Autodesk, a renowned public limited company recently acquired Upchain, a startup that offers a cloud-based product life cycle management (PLM) service.
Industrial giant Siemens acquired Supplyframe using it to enhance the company’s greater digital marketplace strategy.
Such acquisitions reflect that the electronics market industry is rapidly growing and Inventhub is well placed to significantly disrupt how electronics are designed.
The exponential growth of digital products designed for markets, such as consumer products, robotics, IoT, medical devices and energy sectors has created a need for remote based collaboration of electronics design resources.
Usama, who is extremely passionate about playing his part in making the world more connected did not have an easy journey.
“I’ve had my fair share of challenges and uncertainties, but I’ve always found a way to keep going. The various experiences that I’ve had through this journey with Inventhub have transformed me,” Usama Abid told The Pakistan Daily in an exclusive conversation.