Itera Raises $12M in Seed Funding Led by Upfront Ventures

Deep tech startup Itera has emerged from stealth with a prototype of what it says is the world’s first fluid circuit board, allowing engineers to test and change electronic designs in real time using actual components.

Traditional printed circuit board (PCB) prototyping can take two to six weeks for each design update, costing hardware teams large amounts of time and money and contributing to an estimated $50 billion in annual electronics development spending.

Itera aims to solve this problem with a patented system that uses glass and liquid metal technology, allowing engineers to rewire circuits in under a minute.

Unlike simulation software, which cannot fully copy real-world component behavior, Itera’s fluid circuit board uses actual components with real electrical performance. Engineers can also access and test any point inside the circuit, not just standard test points, giving them much greater visibility than traditional PCB prototypes. This can make design updates up to 1,000 times faster, reducing development timelines from months to just days.

Itera operates using an Electronics-as-a-Service model. Customer designs are built with real components on Itera’s multilayer substrates at secure testing centers in the United States. Customers can remotely test and modify their hardware and software until the design is ready for manufacturing.

The company says it is uniquely positioned to provide real electronic performance data, helping businesses develop products faster and with greater confidence. As governments and companies place more focus on domestic manufacturing and supply chain stability, Itera aims to support reshoring efforts and data sovereignty needs.

Itera said a top-five global automotive manufacturer and defense technology companies have already reserved its initial production capacity. A major hyperscaler and several chipset makers are also currently evaluating the technology through live demonstrations.

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“I've worked with hardware companies for 15 years and there have been almost no innovations in how to massively reduce the time to test and iterate physical PCB designs,” said Mark Suster, Managing Partner at Upfront Ventures. “Itera brings an AWS-like solution to testing hardware and this can dramatically lower costs for startups and incumbents alike.”

“Software developers have been able to write code, test, and iterate in real time for decades. Itera makes real-time design and iteration possible for hardware too,” said AJ Cooper, CEO and Co-founder of Itera. “Hardware has always been hard because it is permanent. Changing it requires time and money. Itera is making hardware easy. For the first time ever, an engineer can change a circuit and test it again before their coffee gets cold.”

About Itera

Founded by AJ Cooper, Itera develops fluid circuit technology that allows engineers to test real hardware changes in seconds instead of waiting weeks for traditional prototypes. Its liquid metal circuit boards can be modified in under a minute and provide full circuit visibility, helping reduce the high costs and long development times associated with electronics design. The company’s goal is to bring software-like speed and flexibility to hardware development and accelerate electronic innovation.

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