US-based venture capital firm Formation 8 has hired Lior Susan from supply chain management company Flextronics to lead its investments in hardware startups, Techcrunch reported yesterday.
Susan will identify emerging hardware startups, invest in them and advise them. He was previously vice president of ventures at Flextronics and founded the company’s Lab IX hardware accelerator.
Lab IX backed 28 startups but was mostly concerned with getting the respective products to market and helping Flextronics access promising new businesses.
At Formation 8, Susan will focus on startups that have working prototypes but need support in establishing a supply chain, sourcing and manufacturing.
Formation 8 closed its second $500m fund in December last year. It also hired Shirish Sathaye, former partner at Matrix Partners and Khosla Ventures, in November 2014, and Pierre Lamond, former partner at Sequoia Capital and Khosla Ventures, in September.