money moves

Houston-based electronics manufacturing biz raises $15M in new funding

MacroFab's latest $15 million round will help it expand and grow throughout North America. Photo via macrofab.com

A Houston company that has optimized electronics manufacturing by setting up a digital platform connecting a network of factories across North America has raised its latest round of funding.

MacroFab closed a $15 million series B round led by New Jersey-based Edison Partners. ATX Venture Partners also participated, along with strategic investor Altium Limited, a leader in the electronics design software space.

The new funds will go toward keeping up with MacroFab's growth, specifically in expanding in North America and an increased investment in research and development, sales and marketing, and the opening of a new distribution center for international logistics this summer, according to a news release.

"MacroFab customers found themselves in a perfect storm last year, and went from being curious about cloud-enabled manufacturing to going all-in," says Misha Govshteyn, MacroFab CEO, in the release. "The turbulence started with the trade war and tariffs, and only accelerated with massive delays in delivering products from overseas and the ongoing microchip availability crisis.”

Govshteyn says the pandemic has affected traditional manufacturing processes. While some companies utilized manufacturing in China, international travel meant for impossible in-person troubleshooting. Digitization became increasingly optimal.

"Supply chain leaders are turning to MacroFab and our digital platform as a way to move faster," Govshteyn continues in the release. "If you're not as big as Apple, but want to build across multiple factories in parallel, our platform is the only way to do so without incurring immense costs".

MacroFab was founded in 2013 and has raised both seed and series A financing led by ATX Venture Partners and Techstars. Govshteyn and his co-founders — Chris Church, who serves as chief product officer, Chris Granberry, the company's COO — previously co-founded Alert Logic.

The trio of entrepreneurs reconvened to address an opportunity in a market that was home to an antiquated process within manufacturing. Lately, MacroFab's clients are looking to reduce waste.

"A typical electronics factory is only 60 percent utilized, according to New Venture Research, which is startlingly inefficient," Church says in the release. "A number of our customers focused on Environmental and Social Governance (ESG) issues see our ability to tap into this capacity as a step towards ecologically sustainable production."

The deal includes a new board member for MacroFab. Daniel Herscovici, partner at Edison Partners, will join MacroFab's board of directors

The company has "a proven track record of building successful SaaS and cloud infrastructure businesses together, and are now bringing supply chain innovation to the market at a time when global electronics manufacturing is facing disruption," Herscovici says in the release. "MacroFab is at the center of driving the digital transformation needed to unlock factory capacity, manufacturing agility and efficiency, and even new economic and labor markets for electronics makers across North America."

MacroFab's raise also included a new strategic partnership with Altium, one of the largest players in the electronics design space, per the release.

"Altium shares MacroFab's vision for digital transformation of manufacturing in the electronics industry," says Ted Pawela, chief ecosystem officer at Altium. "Our investment in, and partnership with MacroFab is a huge step forward in connecting design, supply chain, and manufacturing to accelerate innovation."

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Building Houston

 
 

For over a year now, scientists have been testing wastewater for COVID-19. Now, the public can access that information. Photo via Getty Images

In 2020, a group of researchers began testing Houston's wastewater to collect data to help identify trends at the community level. Now, the team's work has been rounded up to use as an online resource.

The Houston Health Department and Rice University launched the dashboard on September 22. The information comes from samples collected from the city's 39 wastewater treatment plants and many HISD schools.

"This new dashboard is another tool Houstonians can use to gauge the situation and make informed decisions to protect their families," says Dr. Loren Hopkins, chief environmental science officer for the health department and professor in the practice of statistics at Rice University, in a news release. "A high level of virus in your neighborhood's wastewater means virus is spreading locally and you should be even more stringent about masking up when visiting public places."

The health department, Houston Water, Rice University, and Baylor College of Medicine originally collaborated on the wastewater testing. Baylor microbiologist Dr. Anthony Maresso, director of BCM TAILOR Labs, led a part of the research.

"This is not Houston's first infectious disease crisis," Maresso says in an earlier news release. "Wastewater sampling was pioneered by Joseph Melnick, the first chair of Baylor's Department of Molecular Virology and Microbiology, to get ahead of polio outbreaks in Houston in the 1960s. This work essentially ushered in the field of environmental virology, and it began here at Baylor. TAILOR Labs is just continuing that tradition by providing advanced science measures to support local public health intervention."

It's an affordable way to track the virus, says experts. People with COVID-19 shed viral particles in their feces, according to the release, and by testing the wastewater, the health department can measure important infection rate changes.

The dashboard, which is accessible online now, is color-coded by the level of viral load in wastewater samples, as well as labeled with any recent trend changes. Houstonians can find the interactive COVID-19 wastewater monitoring dashboard, vaccination sites, testing sites, and more information at houstonemergency.org/covid19.

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