Makerspace and tech community NextFab has been investing in Philly-area startups in the hardtech category — that’s the intersection of hardware and software — for nearly a decade. Now, it’s quadrupling its investment size from $25,000 to $100,000.
To date, NextFab’s venture arm, NextFab Ventures, has invested in companies that have gone on to raise more than $62 million and employ hundreds in the mid-Atlantic, per the org. Robotics and autonomous vehicle startup Burro, respiratory device company Strados Labs and Pennovation-based IoT startup Strella Biotechnology are in the fund’s portfolio.
Historically, these first investments have been $25,000 in cash and up to $10,000 of in-kind contributions. But portfolio companies and other quickly growing startups have expressed the need for a change, NextFab said. Its new investment structure includes $60,000 in cash and…
