Clavier: Hardware Startups Need $3M-$4M Seed Rounds Due to Longer Timelines
Jeff Clavier · 20 VC 069: Jeff Clavier, King of Seed Funding @ SoftTech VC on Brad Feld, Fitbit and Standout Startups · Sep 7, 2015 · at 17:04
Jeff Clavier, founder of SoftTech VC, outlines average seed round sizes for software versus hardware portfolio companies.
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“Most of our companies will, you know, go out and raise a two million dollar seed round on average Unless, you know, they're a hardware company, in which case, they might go and raise a three to four million dollar listed round, because hardware is so hard and takes so much time, typically more time than entrepreneurs and founders had originally anticipated, that you want to have that extra, you know, six months of sandbagging”
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