Trade War Is Hurting Silicon Valley Augmented Reality Startup
- Meta says lead Chinese investor froze deal at Beijing’s behest
- Crackdown on Chinese investment in U.S. tech companies blamed
Source: Meta Co.
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Augmented reality startup Meta Co. was on the verge of raising funds from Chinese backers when the lead investor froze the deal at the behest of a Chinese official who cited the trade war.
It’s the latest sign that U.S. tariffs on Chinese goods and a crackdown on foreign investment in U.S. tech companies is casting a chill in Silicon Valley. Small hardware makers are already suffering from rising tariffs, and now startups looking to raise money in China are feeling the effect.