中国技术更新；2024年第四季度

Page/ 2Chinese startupsraised $39B in2024Chinese VC funding wasbelow 2015 levels due to dropin late-stage megarounds.Early and breakout stage areat 2019/20 levels. Source:Dealroom.coChina VC investment by stage» view online▊$0–1m (pre-seed)▊$1–4m (seed)▊$4–15m (series A)▊$15–40m (series B)▊$40–100m (series C)▊$100–250m (mega rounds)▊$250m+ (mega+) Page/ 3China share ofglobal VCfunding was 12%in 2024, less thanhalf the 31%peak in 2018The US and Europe areattracting the highest share innearly a decade. Page/ 4Foreigninvestors havealmostdisappearedfrom China. Itʼsall domesticcapital nowLess than 2% of capital in2024 has come from USinvestors, compared to over20% in 2017-2018. Page/ 5Manufacturingattracted nearly70% of ChinaʼsVC funding in2023, up 3.5xfrom 2016AI startups such as MoonshotAI, Zhipu AI, MiniMax AI and01.AI led a SaaS revival in2024. Source:Source:Dealroom.coRest of consumer techMarketplaces & e-commerceFintechVC investmentVC investmentVC investmentSome VC sectors have completely disappeared from the Chinese market in the last few years. Page/ 7Deep Tech madeup 38% ofChinaʼs VCfunding, a recordshare.This share has grown 4x since2018, mainly driven bysemiconductors, space, AI &robotics and clean tech. Source:Source:Dealroom.coGenAI model makersSpaceSemiconductorsVC investmentVC investmentVC investmentSome Deep Tech VC sectors boomed in the Chinese market in the last few years. Page/ 9China raised thesecond highestventure capitaltotal of anycountry in 2024However, Chinese startupinvestment dramaticallylagged the US, which raisedmore VC investment in 2024than the rest of the worldcombined. Page/ 10Shanghai andBeijing remain thetop two Asiancities by VCinvestment raisedThough, Bengaluru and Mumbaiare not that far behind. Create a free account on dealroom.cofor more intelligence on startups andecosystems.