Here’s the Boston tech scene, in a nutshell: Hardi Meybaum comes from Estonia, the country that gave us Skype. He moved to the Boston area in 2010, with his online product-design startup, GrabCAD. New England has a rich history in computer-aided design, with SolidWorks, Parametric Technology, and others. GrabCAD went through the Techstars accelerator program and raised about $14 million from four Boston venture firms. This week, the 50-person startup was acquired by 3D printing giant Stratasys for $100 million. Which sounds like a good outcome, but part of me wonders if GrabCAD could have been the next billion-dollar Boston company.
In other innovation news:
— Tokai Pharmaceuticals has joined the ranks of public biotechs, raising $97 million in an IPO. The Cambridge firm is developing a new drug for prostate cancer.
— Our deal of the week is Silicon Valley Bank’s $3 million investment in Startup Institute, based in Boston. The funding highlights the rise of alternative education programs, as well as financial institutions getting closer to tech entrepreneurs.
— And lastly, what does $90 million buy you these days? That’s the private equity investment in Savant Systems’ effort to bring smart homes to the masses. The Hyannis company automates things like home security, lighting, and climate. Indeed, most of us would be happy not to have to turn our heat on in the waning days of summer.