Quilter, a circuit board design startup, secured $10 million in a Series A funding round led by Benchmark, a venture capital firm known for its investments in eBay, Uber, Snap, and Instagram.
The Los Angeles-based company, established in 2019, aims to use AI similar to Google’s AlphaGo for enhancing circuit board design efficiency in various electronic devices.
Benchmark’s Eric Vishria joined Quilter’s board as part of the investment, which aims to automate circuit board design processes. The valuation remains undisclosed.
“Just because (software) got to 90% completion doesn’t mean it did 90% of the work,” Quilter CEO Sergiy Nesterenko said in an interview with Reuters. “That remaining 10% of the work that is left is really, really difficult.”
While Vishria mentioned that the Menlo Park, California-based venture firm developed an interest in Quilter due to the rapid increase in electronics worldwide and the potential of AI to fully automate the circuit board design process.
