Venture Funds Pour Into Hardware as China Curbs Internet Firms
- Hardware startup investments hit $5.4 billion in 1H: PitchBook
- Regulators launched a crackdown in internet firms since 2020
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China’s hardware startups are getting more venture capital funding this year, helped by Beijing’s effort to drive investments in strategically important technology as well as its crackdown on the internet sector.
Venture firms pumped $5.4 billion into hardware startups such as chip producers and robotics makers across Greater China during the first half of the year, according to a report by Seattle-based data provider PitchBook on Tuesday. That’s already surpassed the $5.1 billion raised in total last year and is almost quadruple the $1.4 billion total for 2016.