# 175: Raising Hardware Funding via an Angel Investor

- Show: [Product Startup](https://hardwarepodcasts.com/podcast/product-startup)
- Published: 2023-05-11
- Length: 20m
- Page: https://hardwarepodcasts.com/podcast/product-startup/2023-05-11-175-raising-hardware-funding-via-an-angel-investor
- Listen: https://productstartup.com/

## Summary

Larry Richenstein, CEO of WePower Technologies and a New York Angels Network investor, explains that hardware angel investors require a working prototype to de-risk investments, as ideas alone are insufficient. He advises founders to find hardware-specific investors, integrate software elements for recurring revenue, and use crowdfunding to validate niche markets and avoid premature equity dilution. Richenstein also details his own venture, WePower Technologies, which develops energy-harvesting technology called GEMs to eliminate batteries in IoT devices.

## Chapters

- [0:00](https://hardwarepodcasts.com/podcast/product-startup/2023-05-11-175-raising-hardware-funding-via-an-angel-investor#t=0) Introduction: Larry Richenstein and WePower Technologies
- [1:30](https://hardwarepodcasts.com/podcast/product-startup/2023-05-11-175-raising-hardware-funding-via-an-angel-investor#t=90) Richenstein's History: From Telephones to Angel Investing
- [4:42](https://hardwarepodcasts.com/podcast/product-startup/2023-05-11-175-raising-hardware-funding-via-an-angel-investor#t=282) The Necessity of Working Prototypes in Hardware
- [8:18](https://hardwarepodcasts.com/podcast/product-startup/2023-05-11-175-raising-hardware-funding-via-an-angel-investor#t=498) Finding Hardware Angels and Structuring the Pitch
- [11:13](https://hardwarepodcasts.com/podcast/product-startup/2023-05-11-175-raising-hardware-funding-via-an-angel-investor#t=673) Niche Markets, Crowdfunding, and Avoiding Feature Creep
- [16:34](https://hardwarepodcasts.com/podcast/product-startup/2023-05-11-175-raising-hardware-funding-via-an-angel-investor#t=994) WePower Technologies and the GEMs Energy Harvesting Technology

## Topics

- [Fundraising & investors](https://hardwarepodcasts.com/topic/fundraising)
- [Prototyping & iteration](https://hardwarepodcasts.com/topic/prototyping)
- [Crowdfunding & preorders](https://hardwarepodcasts.com/topic/crowdfunding)
- [Batteries & low-power design](https://hardwarepodcasts.com/topic/batteries-and-low-power)
- [Industrial & consumer product design](https://hardwarepodcasts.com/topic/industrial-design)

## Most relevant to

early-stage companies

## Mentioned

- WePower Technologies (company)
- New York Angels (other)
- Mako Design + Invent (company)
- Lone Star (company)
- Unwired (company)
- GEMs (product)

## 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 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)
- [S3 E4: An Impact Hardware VC's Playbook with Carlota Ochoa from Extentia](https://hardwarepodcasts.com/podcast/the-builder-circle/2025-11-11-s3-e4-an-impact-hardware-vcs-playbook-with-carlota-ochoa-from-extentia) (The Builder Circle)
- [Deep Tech Investing](https://hardwarepodcasts.com/podcast/oxide-and-friends/2022-08-02-deep-tech-investing) (Oxide and Friends)
- [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)

## Citing this page

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