{"id":9618,"date":"2024-04-24T16:07:23","date_gmt":"2024-04-24T16:07:23","guid":{"rendered":"https:\/\/durolabs.co\/?post_type=press&p=9618"},"modified":"2024-06-13T19:26:07","modified_gmt":"2024-06-13T19:26:07","slug":"duro-takes-another-step-in-reshaping-hardware-engineering","status":"publish","type":"press","link":"https:\/\/durolabs.co\/press\/duro-takes-another-step-in-reshaping-hardware-engineering\/","title":{"rendered":"Duro Takes Another Step In Reshaping Hardware Engineering"},"content":{"rendered":"\t\t
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Los Angeles, May 1st, 2024<\/b>\u2014Duro, a leading Cloud-native PLM platform in hardware engineering, today announced $7.5 million in seed funding led by New York City\u2019s\u00a0Primary Ventures<\/a>.\u00a0<\/p>

Duro\u2019s latest round of funding includes participation from past investors Bonfire Ventures and Riot Ventures. The announcement coincides with Jon Stevenson, founder of\u00a0GrabCAD<\/a>, joining Duro\u2019s Board of Directors.<\/p>

\u201c<\/i>Duro is the first platform we\u2019ve seen that recognizes the changes in how modern, agile hardware teams work. By bringing workflow principles from the best of agile software design while integrating the design process with the realities of supply chain constraints, Duro enables more collaboration, real-time information flow, and rapid design work for hardware teams. We think they are redefining product lifecycle management in the process.\u201d<\/i><\/p>

\u2014 Brad Svrluga, Co-Founder and General Partner, Primary Venture Partners<\/b><\/p><\/blockquote>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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How Duro is Modernizing Hardware Development<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Founded by\u00a0Michael Corr<\/a>\u00a0and\u00a0Kellan O\u2019Connor<\/a>, Duro\u2019s out-of-the-box PLM revolutionizes how hardware teams operate. Duro offers a plug-and-play tech stack solution that simplifies complex product data management by addressing common inefficiencies in BOM management, design changes, and procurement.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Duro\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Duro Co-Founders \u2013 Kellan O\u2019Connor & Michael Corr<\/strong><\/p>

The platform leverages pre-built CAD, ERP, and MES integrations to streamline and automate product lifecycle management. Using agile workflows, hardware teams can develop products three times faster and reduce supply chain costs by 25%.\u00a0<\/p>

\u201cDuro exists to reduce the cost of failure, allowing engineers to embrace risks and boost innovation. As a catalyst for growth in a ripe hardware industry, our vision to host the bill of materials for every hardware product globally will empower teams to innovate and accelerate market entry like never before.\u201d<\/i><\/p>

\u2014 Michael Corr, Co-Founder & CEO of Duro<\/b><\/p><\/blockquote>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Software Must Match Hardware Advances<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Duro\u2019s initiative comes at a crucial time. The last few years have highlighted considerable inefficiencies in physical product innovation, particularly in manufacturing, making up\u00a0$15 trillion of the global $25 trillion<\/b>\u00a0supply chain market.\u00a0<\/p>

Despite rapid industry advancements, many software for hardware tools still fall short. Duro addresses these gaps with flexible, easy-to-use software that integrates seamlessly with existing tech stacks, ensuring quick deployment and operation.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Duro\u2019s PLM Driving Success\n<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Having helped design the Space X Falcon 9 rocket, O\u2019Connor\u2019s influence is evident. With aerospace making up around\u00a025% of the PLM market<\/a>, it\u2019s no surprise that nearly half of Duro\u2019s 90+ customers are from the space tech industry.\u00a0<\/p>

A shining example is Duro client\u00a0Gilmour Space<\/a>, which recently raised $36M and is set to launch its three-stage \u2018Eris\u2019<\/i>\u00a0rocket in May 2024\u2014the first Australian-built rocket to enter orbit.\u00a0<\/p>

\u201cWithout being able to define a baseline or manage changes to our products in Duro, we wouldn\u2019t have the confidence in our design to be able to seek launch permission.\u201d\u00a0<\/i><\/p>

\u00a0<\/i>\u2013\u00a0Senior Launch Vehicle Engineer, Gilmour Space.<\/b><\/p><\/blockquote>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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How Funding Will Fuel Growth and Transformation\n<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Generative AI and Product Innovation<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The new capital will grow Duro\u2019s R&D team, increasing product development capacity to deliver new features that empower customers to build a best-in-class hardware tech stack. This includes developing Gen-AI extensions within Duro PLM to enhance BOM (bill of materials) management and supply chain optimization.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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New Integrations and Partnerships<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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There\u2019s a vibrant market of new software for hardware tools in which Duro is establishing itself as the anchor in the tech stack, centralizing customers\u2019 bill of materials. Amid rapid tool innovation, Duro is constantly finding new integrations and strategic partnerships to expand the tech stack economy.\u00a0<\/p>

Investments in Duro\u2019s API and new integrations will enable quick setup and provide access to consistent, accurate product data for everyone from design engineers to manufacturers across the development lifecycle, significantly reducing hardware product development overhead.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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What\u2019s Next for Duro?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Manufacturing companies want to abandon dated legacy tools and adopt cloud-native agile workflows. Duro is ready to\u00a0lead this industry shift<\/a>, targeting further expansion into established enterprise hardware sectors, notably space and industrial technology.\u00a0<\/p>

After extending its team presence beyond its LA headquarters into New York City and Europe, Duro\u2019s highly integrated and growing PLM platform \u2013 the first and only PLM on Google Marketplace, is firmly on the path to changing how hardware teams manage design and manufacturing.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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