The success story of GrabCAD emphasizes the necessity of business angels in Estonia

GrabCAD, an Estonian startup founded by Hardi Meybaum and backed by a business angel Marek Kiisa as the first investor, got acquired by 3D printing giant Stratasys for estimated 100 million USD. GrabCAD provides an online community described as the “Github for mechanical engineers”. 

“GrabCAD was founded to bring the world’s engineers together and help them collaborate to bring better products to market faster,” said Hardi Meybaum, CEO of GrabCAD. “By joining forces with Stratasys, a global leader in 3D printing and additive manufacturing, we believe we can extend the reach of one of the most exciting and innovative design collaboration technologies available. With its broad and growing customer base and worldwide presence, Stratasys can provide more customers around the world with exciting new solutions to meet their design needs.”

The sale of GrabCAD is the biggest exit for Estonian venture capital and business angels. The Estonian angels believe that, the success of one of the founding members of EstBAN, Marek Kiisa will definitely boost the Estonian business angels sector.

Within 1.5 years of operations the Estonian Business Angels Network EstBAN has involved ca 80 private investors who believe in the Estonian entrepreneurs’ capacity to found and grow new businesses that can take on the world.