Framework, a maker of modular, repairable laptops, has received an $18 million investment and plans to expand and launch “additional product categories.”
“With this new round, we’re continuing to deepen support for our existing customers, scaling the reach of our current products, and extending to additional product categories that let us empower new consumers and businesses. Ultimately, we need for everyone in the world to have the option for a longer-lasting product, no matter the category,” wrote the company’s CEO Nirav Patel.
So far, the company hasn’t said what direction it will take next and hasn’t shared details about future products. Nevertheless, Patel noted that one of the key investors is Cooler Master, which has already worked with Framework on a special case for a laptop motherboard that turns it into a PC.
Patel notes that both companies are currently working on new products, but without any details yet.
Among other things, Framework has also started accepting investments from the community, but with certain restrictions.
“Investing in startups is approximately the riskiest place imaginable to put your money, and statistically, the most likely outcome for any individual early-stage startup investment is for it to become worthless. With that in mind, for both moral and regulatory reasons, we’re limiting participation to individuals and entities that meet the SEC’s Accredited Investor qualifications,” Patel says.
The company is also planning to expand its staff and already has vacancies for several key positions, including product marketing manager and supply chain manager.
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