Princeton-based investment firm Edison Partners has led a $15 million growth capital investment in an electronics manufacturing-as-a-service company, it announced Tuesday.
The investment in MacroFab, based in Houston, includes a strategic investment from Altium Ltd., a publicly traded electronics design software company, Edison said in a news release. MacroFab intends to use the funds to accelerate sales and marketing of its cloud manufacturing platform for midmarket industrial, energy Internet of Things, robotics and computing businesses.
“MacroFab is at the forefront of building supply chain resilience as the trend to nearshoring and multisource shoring continues with rising costs in Asia, component shortages and the increasing need for agile production,” Daniel Herscovici, the partner with Edison Partners who led the investment, said in a prepared statement. “By optimizing both factory capacity and breadth of capability, while digitizing that interface, CEO Misha Govshteyn and his leadership team are unlocking the $29 billion in manufacturing volume that is currently stranded in North America. All this, plus expanding economic opportunities and job creation in local factory markets.”
Herscovici will join MacroFab’s board of directors, Edison said.
The deal represents Edison’s 270th investment since its inception in 1986.