Bothell-based heat and power startup Modern Electron is planning to boost its headcount this year after raising $30 million in December.
Co-founder and CEO Tony Pan said Modern Electron currently has 45 employees but is planning to hit 65 by the end of the year. He added the company is hiring mostly hardware engineering roles, like electrical engineers and mechanical engineers.
"Almost all of (our employees) are based in Bothell," Pan said. "We're a hardware company, so for the most part, people do have to come in like me to be in the lab and workshop and do hands-on engineering."
Pan said the company is looking for more office space to accommodate its growing team. He added that Modern Electron is negotiating to expand in its current location but will look elsewhere if that doesn't work out.
On its website, Modern Electron has 11 open roles.
Modern Electron was founded in 2015. The company makes an attachment for heaters designed to make them more efficient, cheaper to run and less polluting. Modern Electron works with HVAC companies to distribute its technology, and its primary markets are the U.S. and Europe, Pan said. He added that Modern Electron is also moving into hydrogen production, which can be a substitute for fossil fuels.
At One Ventures led the $30 million round, Pan said. Bill Gates, Invention Science Fund and Metaplanet are also among Modern Electron's backers.
Pan said Seattle is a software-heavy city, while Modern Electron is a hardware business. He estimated about 60% of the company's hires have had to relocate to the area.
"That being said, thanks to the presence of companies like Boeing who have a talent base here, there is a fraction of talent we can look for locally in hardware engineering," Pan said. "We mostly look for, I would say, midcareer people."
