According to our private source, The French VC company Hardware Club just announced the final closing of its first fund. The company will invest $50 million in total in hardware startups.
Hardware Club first began for a community of hardware startups sharing knowledge, contacts and tips in the hardware community. Chances are many companies before you had the same supply chain, if you are launching a hardware product.
The club has negotiated partnerships with manufacturers and vendors, such as Amazon Foxconn and Honda. There are 470 startups in 150 partners, as well as the club from 39 countries.
And the most promising startups that are a part of the club are then invested in by Hardware Club. Let’s hope that startups get enough perks from the community because investing in certain companies but not all of them creates a signaling issue.
Hardware Club already invested in a number of businesses, such as Left Hand Robotics, Alcatraz AI, Automata and Cowboy Bike. Overall, Hardware Club hopes to realize an exit soon and spent in 28 startups. The firm also intends to invest in Series A round, ideally at a seed or another 20 startups with this finance.