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Only 24% raised a second round compared to 46% for tech companies generally.

“Investors have a deep-seated bias against hardware,” Paul Graham wrote in 2012, citing the conventional wisdom that software businesses can scale up faster and more cheaply than hardware businesses.

Three early-stage upstarts to raise last year included robotics startup ROOBO, “intelligent oven” maker June, and VR-headset developer Fove.

Consumer hardware startups continue emerging at a fast clip.

The median size of those crowdfunding raises was just 0,000 – providing very little runway to support hardware manufacturing, marketing, or sales costs.

Intuitively, it makes sense that many hardware startups fail after one round of financing.

IPOs in the consumer hardware space are rare, and for every multibillion dollar acquisition achieved by makers of Beats headphones, Nest thermostat, or Oculus Rift headset, there’s a trail of postmortems by the creators of the Pebble smartwatch, Narrative Clip camera, Angel Sensor wristband, and so many others.

Only 17 consumer hardware startups have gone public since the start of 2012, and the category has averaged less than 50 total exits per year over the last five years.

We’ve tracked a tech startup’s chances of success after raising an initial seed round, including both hardware and software companies.

Only 46% of them will succeed in raising even just one additional round of funding.

The second quarter of 2017 saw nearly 140 deals and

Only 17 consumer hardware startups have gone public since the start of 2012, and the category has averaged less than 50 total exits per year over the last five years.

We’ve tracked a tech startup’s chances of success after raising an initial seed round, including both hardware and software companies.

Only 46% of them will succeed in raising even just one additional round of funding.

The second quarter of 2017 saw nearly 140 deals and $1.2B in funding to consumer hardware startups.

And last year was a record year for deals and dollars.

Some $4.4B went into consumer hardware across 624 separate deals.

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Only 17 consumer hardware startups have gone public since the start of 2012, and the category has averaged less than 50 total exits per year over the last five years.We’ve tracked a tech startup’s chances of success after raising an initial seed round, including both hardware and software companies.Only 46% of them will succeed in raising even just one additional round of funding.The second quarter of 2017 saw nearly 140 deals and $1.2B in funding to consumer hardware startups.And last year was a record year for deals and dollars.Some $4.4B went into consumer hardware across 624 separate deals.

.2B in funding to consumer hardware startups.

And last year was a record year for deals and dollars.

Some .4B went into consumer hardware across 624 separate deals.