# 065: Hardware Funding from Seed Financing to Millions

- Show: [Product Startup](https://hardwarepodcasts.com/podcast/product-startup)
- Published: 2021-03-02
- Length: 54m
- Page: https://hardwarepodcasts.com/podcast/product-startup/2021-03-02-065-hardware-funding-from-seed-financing-to-millions
- Listen: https://productstartup.com/

## Summary

Jeffery Potvin, founder of the Open People Network (OPN), explains the hardware funding lifecycle from pre-seed to Series C, emphasizing that investors require tangible products rather than just ideas. He details how founders should de-risk ventures by securing domain-expert angel investors, utilizing crowdfunding platforms like Kickstarter and Indiegogo, and leveraging government matching funds to validate market demand before seeking venture capital. Potvin highlights specific case studies, including Rise (formerly Access) and Jamstack, illustrating how strategic use of debt financing, Regulation A+ offerings, and iterative product phases (from 500 to 50,000+ units) enables rapid scaling and successful Series A/B rounds.

## Chapters

- [0:46](https://hardwarepodcasts.com/podcast/product-startup/2021-03-02-065-hardware-funding-from-seed-financing-to-millions#t=46) Introduction: Jeffery Potvin and Open People Network Programs
- [8:47](https://hardwarepodcasts.com/podcast/product-startup/2021-03-02-065-hardware-funding-from-seed-financing-to-millions#t=527) Pre-Seed Strategy: De-risking with Tangible Prototypes and Domain Experts
- [13:15](https://hardwarepodcasts.com/podcast/product-startup/2021-03-02-065-hardware-funding-from-seed-financing-to-millions#t=795) Seed Funding: Angels, Crowdfunding, and Government Matching
- [21:31](https://hardwarepodcasts.com/podcast/product-startup/2021-03-02-065-hardware-funding-from-seed-financing-to-millions#t=1291) Scaling Production: Debt Financing and Iterating from 500 to 5,000 Units
- [26:09](https://hardwarepodcasts.com/podcast/product-startup/2021-03-02-065-hardware-funding-from-seed-financing-to-millions#t=1569) Growth Capital: Series A, Regulation A+, and Case Studies (Rise, Jamstack)
- [39:27](https://hardwarepodcasts.com/podcast/product-startup/2021-03-02-065-hardware-funding-from-seed-financing-to-millions#t=2367) Series B/C Targets: Revenue Milestones and Financial Forecasting
- [44:17](https://hardwarepodcasts.com/podcast/product-startup/2021-03-02-065-hardware-funding-from-seed-financing-to-millions#t=2657) Case Study: Flow Water and Building a Leadership Team for Exit

## Topics

- [Fundraising & investors](https://hardwarepodcasts.com/topic/fundraising)
- [Validation & product-market fit](https://hardwarepodcasts.com/topic/validation-and-product-market-fit)
- [Scaling production](https://hardwarepodcasts.com/topic/scaling-production)
- [Prototyping & iteration](https://hardwarepodcasts.com/topic/prototyping)

## Most relevant to

early-stage companies, companies scaling up

## Mentioned

- Open People Network (company)
- Kickstarter (product)
- Indiegogo (product)
- Rise (product)
- Jamstack (product)
- Flow Water (company)

## Related episodes from other shows

- [#015 - How to benefit for your hardware project from the first major crowdfunding platform, with Sandy Diao of Indiegogo, USA](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2017-03-01-015-how-to-benefit-for-your-hardware-project-from-the-first-major-crowdfunding-p) (The Hardware Entrepreneur)
- [S1 E9: Building a Strong Capital Stack for a Hardware Product with Orin Hoffman](https://hardwarepodcasts.com/podcast/the-builder-circle/2023-07-25-s1-e9-building-a-strong-capital-stack-for-a-hardware-product-with-orin-hoffman) (The Builder Circle)
- [S2E37 Defied the odds:  A Physical Product Development Firm That Focuses on Startups & Small Businesses, Mako Design + Invent –Kevin Mako](https://hardwarepodcasts.com/podcast/being-an-engineer/2021-08-23-s2e37-defied-the-odds-a-physical-product-development-firm-that-focuses-on-startu) (Being an Engineer)
- [Episode 1 - The Hardware Story of Inito w/ Aayush Rai | Building a B2C medical hardware company](https://hardwarepodcasts.com/podcast/the-hardware-story/2024-06-26-episode-1-the-hardware-story-of-inito-w-aayush-rai-building-a-b2c-medical-hardwa) (The Hardware Story)
- [S1 E7: Level Up Your Hardware Product Pitch with Haje Kamps](https://hardwarepodcasts.com/podcast/the-builder-circle/2023-06-27-s1-e7-level-up-your-hardware-product-pitch-with-haje-kamps) (The Builder Circle)

## Citing this page

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