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100 Top Unicorns

Top 46 Hardware Venture Capital Firms (2026)

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Building a hardware company presents unique challenges, and the right financial partner is often essential. These investors offer more than just money; they bring experience in turning tangible ideas into lasting companies.

Many firms are actively funding hardware founders. Plug and Play, for example, has made over 2,200 investments, while Benchmark has seen nearly 200 of its companies exit.

Below is our list of the best 46 Hardware VC firms.

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Plug and Play operates a global innovation platform and accelerator, connecting early-stage startups with corporations and investors across a multitude of industries. They help these new ventures scale by fostering strategic partnerships and have backed successful companies like Honey, Truebill, and Life360.

HeadquartersSunnyvale, California, United States
Year Founded2006
FoundersAli Safavi, Jackie Hernandez, Jojo Flores, Saeed Amidi
Total Funding$45.5M
Average Check Size$250k
IndustriesDTC, Enterprise, Fintech, Food & Beverage, Healthcare, InsurTech, IoT, Media, Transportation, Hardware, Proptech & Real Estate, Supply Chain & Logistics, Climate & Sustainability, Travel & Hospitality, Agriculture, Energy
Investment StageEarly Stage, Non Equity Assistance, Private Equity, Seed, Series A, Series B, Series C
Nº of Investments2273 (259 as Lead Investor)
Nº of Exits206 (11 IPO'd)
Top Portfolio StartupsTruebill, Honey, Life360
Contactpress@pnptc.com / +1 408-524-1400
Benchmark Logo

Benchmark partners with early-stage entrepreneurs in mobile, marketplaces, and enterprise software to help build their startups into transformational companies. The firm's hands-on approach from its general partners has helped launch iconic brands like Uber, Twitter, Instagram, and eBay.

HeadquartersSan Mateo, California, United States
Year Founded1995
FoundersAndy Rachleff, Bob Kagle, Kevin Harvey
Total Funding$2.5B
Average Check Size$15M
IndustriesCybersecurity, Hardware, Social, Marketplace, Cloud, Consumer, DTC, Infrastructure, SaaS
Investment StageEarly Stage, Late Stage, Post-Ipo, Seed
Nº of Investments727 (244 as Lead Investor)
Nº of Exits197 (51 IPO'd)
Top Portfolio StartupsTwitter, Wework, Snap Inc

Lux Capital backs founders at the intersection of science and technology, investing from seed to growth stages in fields like AI, robotics, and biotech. Their team draws on experience building over 20 companies from scratch to provide hands-on support, helping entrepreneurs turn complex ideas into industry-leading businesses.

HeadquartersNew York, New York, United States
Year Founded2000
FoundersJosh Wolfe, Peter Hebert, Rob Paull
Total Funding$1.5B
IndustriesDeep Tech & Hard Science, Robotics, Manufacturing, AI & ML, Biotech, Infrastructure, Energy, Fintech, Hardware, AR & VR, Transportation, Crypto & Blockchain, Aerospace & Space
Investment StageDebt, Early Stage, Late Stage, Private Equity, Seed
Nº of Investments569 (162 as Lead Investor)
Nº of Exits68 (17 IPO'd)
Top Portfolio StartupsLumafield, Drone Racing, Novig
Contactinfo@luxcapital.com / 646-349-2960

Known for its risk-taking and flexible approach, Spark Capital invests in creative founders building exceptional products across all sectors. This philosophy has led them to back some of the most recognizable technology companies, including Twitter, Discord, Oculus, and Warby Parker.

HeadquartersSan Francisco, California, United States
Year Founded2005
FoundersAlex Finkelstein, Bijan Sabet, Paul Conway, Santo Politi, Todd Dagres
Total Funding$3.8B
Average Check Size$25M
IndustriesConsumer, Crypto & Blockchain, Enterprise, Hardware, Fintech, Marketplace
Investment StageDebt, Early Stage, Late Stage, Seed, Pre-Seed, Series A
Nº of Investments614 (307 as Lead Investor)
Nº of Exits111 (20 IPO'd)
Top Portfolio StartupsCoinbase, Twitter, Wayfair
Contactcontactus@sparkcapital.com / 415-593-9002

Blackbird invests in ambitious Australasian founders with wild ideas right from the beginning, supporting projects from software to space technology. They have helped build some of the region's most successful companies, including the global design platform Canva.

HeadquartersSydney, New South Wales, Australia
Year Founded2012
FoundersAndrea Butler, Bhavesh Nathoo, Bill Bartee, Claire Waring, Larry Marshall, Niki Scevak, Richard Baker
Total Funding$791.7M
Average Check Size$7M
IndustriesEnterprise, Deep Tech & Hard Science, Healthcare, Hardware, Education, Consumer
Investment StageEarly Stage, Late Stage, Seed, Growth, IPO
Nº of Investments338 (141 as Lead Investor)
Nº of Exits24 (1 IPO'd)
Top Portfolio StartupsRedbubble, Zoox, Lifx
Contactcontact@blackbird.vc

Lerer Hippeau provides seed-stage capital to entrepreneurs building ambitious companies across the enterprise and consumer sectors. As experienced operators, they offer hands-on support from the earliest stages and have backed iconic companies like Allbirds, K Health, and Blockdaemon.

HeadquartersNew York, New York, United States
Year Founded2010
FoundersBen Lerer, Eric Hippeau, Ken Lerer
Total Funding$667.8M
IndustriesBig Data & Analytics, Cybersecurity, E-Commerce, Education, Health & Wellness, Crypto & Blockchain, Fintech, Food & Beverage, Future of Work, Productivity, Hardware, Robotics, Healthcare, Marketing, Media, Entertainment, Proptech & Real Estate, Supply Chain & Logistics
Investment StageConvertible Note, Debt, Early Stage, Late Stage, Seed, Pre-Seed, Series A, Series B
Nº of Investments682 (119 as Lead Investor)
Nº of Exits174 (8 IPO'd)
Top Portfolio StartupsBlockdaemon, K Health, Allbirds
Contactcontact@lererhippeau.com

First Round Capital helps technology entrepreneurs build companies from scratch, backing iconic names like Uber, Square, and Warby Parker from their earliest seed stage. They go beyond funding by offering a strong community, custom software, and unique services designed to help tiny companies grow into major players.

HeadquartersPhiladelphia, Pennsylvania, United States
Year Founded2004
FoundersHoward Morgan, Josh Kopelman, Todd Jackson
Total Funding$738M
Average Check Size$4M
IndustriesConsumer, Enterprise, Fintech, Healthcare, Hardware
Investment StageDebt, Early Stage, Late Stage, Seed, Series A
Nº of Investments976 (226 as Lead Investor)
Nº of Exits222 (16 IPO'd)
Top Portfolio StartupsUber, Ring, Planet
Contactinfo@firstround.com / (415) 646-0072

Correlation Ventures uses an analytics-based process to co-invest in funding rounds, offering entrepreneurs a quick and reliable decision. Their broad portfolio covers multiple industries and stages, and includes successful companies like the fintech platform Upstart.

HeadquartersSan Diego, California, United States
Year Founded2006
FoundersDavid Coats, Trevor Kienzle
Total Funding$360M
Average Check Size$4M
IndustriesAerospace & Space, Biotech, Consumer, Healthcare, Hardware, Energy, Fintech, Industrial, Proptech & Real Estate, SaaS
Investment StageEarly Stage, Late Stage, Seed, Series A, Growth
Nº of Investments410 (7 as Lead Investor)
Nº of Exits88 (12 IPO'd)
Top Portfolio StartupsZebit, Virsto, Upstart
Contactinfo@correlationvc.com / 650-353-3327
BREEGA Logo

9. BREEGA

As a team of former entrepreneurs, Breega backs early-stage founders across Europe and Africa who are building in the Digital, Climate, and Deep Tech sectors. They provide hands-on operational support through an in-house Scaling Squad, helping portfolio companies like Exotec and Moneybox with hiring, sales, and marketing.

HeadquartersParis, Ile-de-France, France
Year Founded2013
FoundersBen Marrel, Francois Paulus, Maximilien Bacot
Total Funding€465M
Average Check Size€15M
IndustriesAdvertising, Agriculture, Consumer, Cybersecurity, Fintech, Hardware, Healthcare, IoT, Human Resources, InsurTech, Supply Chain & Logistics, Marketing, Productivity, Mobility, Proptech & Real Estate, Quantum Computing
Investment StageConvertible Note, Early Stage, Seed, Series A
Nº of Investments134 (97 as Lead Investor)
Nº of Exits17
Top Portfolio StartupsWayKonect, Ponicode, Lylo
Contactcom@breega.com / +33 7 67 41 36 24

Kindred Capital backs pre-seed and seed stage founders building companies across enterprise, consumer, and deep tech. Through its equitable venture model, every founder becomes a co-owner of the fund, aligning success across the entire portfolio.

HeadquartersLondon, England, United Kingdom
Year Founded2015
FoundersLeila Zegna, Mark Evans, Russell Buckley, Tracy Doree
Total Funding£195.9M
Average Check Size£1.5M
IndustriesSaaS, Hardware, Marketplace, Deep Tech & Hard Science, Enterprise, Consumer
Investment StageSeed, Pre-Seed
Nº of Investments100 (32 as Lead Investor)
Nº of Exits10
Top Portfolio StartupsFung Payments, Pollen, M3ter
Contacthello@kindredcapital.vc / +44 7540058532

36 Additional Hardware VC Firms Worth Pitching

Beyond our main selections, there are many other active investors building the future of hardware. Together, these firms have backed over 8,300 startups and guided almost 1,600 to an exit.

These investors are spread across the world, from the United States and Europe to Asia. Here’s a look at the other venture capital firms funding what's next in hardware.

VC FirmCountryYear FoundedNº InvestmentsNº Exits
Lifeline Ventures logo Lifeline VenturesFinland200918020
C4 Ventures logo C4 VenturesFrance20126815
Union Square Ventures logo Union Square VenturesUnited States200348766
Ventech logo VentechFrance199821949
Airtree Ventures logo Airtree VenturesAustralia201417616
Inventure logo InventureFinland200516221
Fifty Years logo Fifty YearsUnited States201515510
Hummingbird Ventures logo Hummingbird VenturesBelgium201012916
3TS Capital Partners logo 3TS Capital PartnersFinland19986118
Precursor Ventures logo Precursor VenturesUnited States201545553
True Ventures logo True VenturesUnited States2005762126
Cota Capital logo Cota CapitalUnited States201420633
Icebreaker.vc logo Icebreaker.vcFinland20171264
Brightspark Ventures logo Brightspark VenturesCanada20007414
ZhenFund logo ZhenFundChina201179159
M25 logo M25United States201517827
1517 Fund logo 1517 FundUnited States201511810
Anzu Partners logo Anzu PartnersUnited States2014716
Ocean Azul Partners logo Ocean Azul PartnersUnited States2017562
Intel Capital logo Intel CapitalUnited States19911612520
Korea Investment Partners logo Korea Investment PartnersSouth Korea198647155
Relay Ventures logo Relay VenturesCanada200820055
Molten Ventures logo Molten VenturesUnited Kingdom200623156
August Capital logo August CapitalUnited States198429186
Lemnos VC logo Lemnos VCUnited States20115210
Artesian VC logo Artesian VCAustralia200460429
Innovacom logo InnovacomFrance198817247
SpeedUp Venture Capital Group logo SpeedUp Venture Capital GroupPoland2009739
Gobi Partners logo Gobi PartnersMalaysia200223818
Sawari Ventures logo Sawari VenturesEgypt2009314
BMW i Ventures logo BMW i VenturesUnited States201113323
Startuplab logo StartuplabNorway2012527
Service Provider Capital logo Service Provider CapitalUnited States201424366
Backstage Capital logo Backstage CapitalUnited States20151566
1955 Capital logo 1955 CapitalUnited States20158
Western Technology Investment logo Western Technology InvestmentUnited States1980408152

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