
SnapEDA
Electronics design library that uses patented verification technology, providing instant insight into model quality.
Date | Investors | Amount | Round |
---|---|---|---|
- | investor | €0.0 | round |
investor investor | €0.0 | round | |
investor | €0.0 | round | |
investor investor investor investor investor investor | €0.0 | round | |
N/A | €0.0 | round | |
N/A | Late VC | ||
Total Funding | 000k |
USD | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
% growth | - | 95 % | 32 % | 6 % | - |
EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
EV | 0000 | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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SnapEDA, which rebranded to SnapMagic in October 2023, operates a platform for electronic design automation (EDA). The company was founded in 2013 by Natasha Baker, an electrical engineer who experienced firsthand the tedious and time-consuming process of creating digital models for electronic components from scratch. This experience of spending days building schematic symbols and PCB footprints for a simple circuit board inspired her to create a search engine, akin to a "Google for electronics," where engineers could find pre-made, trusted design content.
The firm primarily serves electrical engineers and circuit board designers across a wide array of industries, including medical devices, aerospace, and consumer electronics, with a user base exceeding 1.5 million engineers globally. Its core product, SnapMagic Search, is an extensive online library offering millions of free CAD models, including schematic symbols, PCB footprints, and 3D models. These ready-to-use building blocks are compatible with most major PCB design software, such as Altium, Cadence, and KiCad. Revenue is generated in part through a service called InstaPart, which allows engineers to request a specific component model to be created and delivered within 24 hours for a fee. The company also partners with electronic component distributors and suppliers, like Digi-Key and Samtec, through its Syndication Network, making its CAD models available on their platforms and providing an analytics tool for suppliers.
In a significant evolution of its services, the company launched SnapMagic CoDesigner in late 2023, an AI-powered copilot for electronics design. This tool integrates with existing PCB design software and leverages the company's vast proprietary dataset to automate repetitive tasks. Its features include the auto-completion of common circuits, generating designs from natural language prompts, suggesting manufacturer-recommended reference designs, and optimizing a bill of materials for cost or power consumption. The AI can also recommend alternative components if a selected part has low inventory, drawing on real-time data from major distributors. This strategic move into AI-driven design automation was backed by a new round of funding in October 2023, attracting investors from the AI and developer tools sectors.
Keywords: electronic design automation, EDA, PCB design, CAD models, schematic symbols, PCB footprints, 3D models, component library, circuit board design, SnapMagic CoDesigner, Natasha Baker, AI in electronics, hardware engineering, electronic components, parts library, design automation, circuit design software, InstaPart, Altium, Cadence