Nascent Objects CEO Baback Elmieh has announced that his company has been acquired by Facebook. Nascent Objects creates modular electronics systems which allow users to build their own gadgets.
Elmieh stated "Nascent Objects was founded on the principle that product development shouldn't be so hard. That's why we created the world's first modular consumer electronics platform - to make product development fast, easy and accessible. By combining hardware design, circuitry, 3D printing and modular electronics, our technology allows developers to go from concept to product in just weeks, much faster and less expensive than traditional methods.
That's also why we've decided to continue our mission at Facebook and Building 8. We're excited to build products that can open the world to everyone and create on a scale we couldn't have imagined before.
People have become used to the idea that with software, you can have whatever you want, whenever you want it. We want to make this happen with hardware - and we think Facebook is the best place to make this a reality.
We'd like to thank our investors Orestone Capital, Co-Creation Capital, early customers, design partner Ammunition, and advisory board for their steadfast support.
We look forward to getting started with Facebook!"
Financial details of the acquisition were not revealed.
Source and top image: Nascent Objects