Exclusive: Chinese hardware firm NexPCB ties up with Revvx to back Indian startups
Chinese hardware company NexPCB is entering India in partnership with Bangalore-based hardware accelerator Revvx to explore investment opportunities.
Founded by Thunder Zhang, NexPCB provides electronics assembly services, hardware, contract manufacturing and turnkey manufacturing services to small to mid-sized companies.
Zhang is also the founder and a board member of Big Bang CafÃ©, a startup platform in Ningbo, China, which has invested about $6 million in 11 startups so far.
Big Bang CafÃ© is also in advanced talks to invest in startups enrolled in Revvx's accelerator programme. Zhang said the firm is evaluating the six startups in Revvx's first batch to invest $100,000 each in select ones.
Revvx, earlier known as Co-Labs, was founded by Satish Mugulavalli and Avinash Kaushik in 2012. One of the early hardware accelerators in the country, Revvx focuses on helping hardware startups in prototyping, manufacturing and distribution. It typically helps hardware startups to take their engineering sample to prototype, take a prototype-ready company to mass manufacturing and raise investments for distribution.
The NexPCB partnership offers Revvx a credible, resourceful manufacture for its hardware startups. "The partnership will help our startups save a lot of time in their process to go to the mass production stage. In addition, NexPCB's manufacturing expertise and capabilities will help them launch products at a much lesser cost," Mugulavalli, CEO of Revvx said.
Run by Capmorris Business Accelerator Pvt Ltd, Revvx had earlier told Techcircle.in that it is setting up a dedicated fund to help the startups on its programme. Kaushik had claimed that the company received soft commitments for over $5 million (around Rs 33 crore) for the first tranche of the Revvx Hardware Fund - I from individual angel investors based in India and the US.
"Our objective is to create successful hardware entrepreneurs from India. We have been working with various manufacturers in India for early prototyping of products for our startups. A lot of this will now be done through NexPCB. With NexPCB, we don't really have to look for different players for prototyping and mass production," Kaushik said.
On the other hand, it's a strategic partnership that enables an easy access for the Chinese company to the Indian hardware landscape.
Zhejiang-based NexPCB offers fabrication, assembly, and supply chain management solutions for printed circuit board manufactures. It has partnerships with a number of hardware startups in Boston and New York area including Kickstarter startups from Industry Lab and Greentown Labs in Boston, and multiple RG/A Techstar teams in New York.
"We have a wider connection with startups across the world, we see a lot of innovations. We are here to find innovative startups that we can take to the global market," Zhang said.
NexPCE will share the office space with Revvx in Bangalore and expects Revvx to be its face in the Indian market. The two companies are planning a number of cross-country engagements for their startups.
Asked if the company would ever consider setting up a manufacturing plant in the backdrop of Apple supplier Foxconn announcing its India plans, Zhang said it would not hesitate to consider that if opportunities arise.
Zhang is also an angel investor and has made personal investments in a couple of US and Chinese startups.
The first batch of Revvx's hardware/IOT accelerator programme will graduate on Friday at the demo day at Nasscom 10K Warehouse in Bangalore. Chetan Maini, founder of Reva Cars, will give a keynote address at the event.
The startups in the first batch are building products in sports, clean-tech, video games and consumer segments.
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