Roughly 90 percent of hard tech startups fail due to funding constraints, longer R&D timelines for developing hardware, and the complexity of manufacturing their products, according to a number of studies.
Generally, these startups require up to 50 percent more investor financing than software ones, according to a Medium article. Typically, they need at least US $30 million, according to a Lucid article. That’s double the funding needed by software companies on average.
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