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Hangzhou

Metro area · China · Pop. 13M · #15 city by EV

A public taster of the full Hangzhou ecosystem on Dealroom — request a demo for live deal flow, founder pedigrees, AI-talent maps, and the full cap table for every company below.

1,054 Pool of Funded Startups

New Startups

96 Annual Startups FoundedAll new ventures

103 Annual Startups FundedReceived investment

get funded 107%

746Startups

192 Pre-Seed Startups$100K–1M

329 Seed Startups$1–4M

225 Series A Startups$4–15M

Seed to Series A 33%

222Breakouts

143 Series B Breakouts$15–40M

A to Series B 52%

79 Series C Breakouts$40–100M

B to Series C 35%

86Scaleups

47 Mega Scaleups$100–250M

reach Mega 4.5%

39 Mega+ Scaleups$250M+

reach Mega+ 3.7%

37Valuation Outcomes

35 Unicorns($1–10B valuation)

reach Unicorn 3.3%

1 Decacorns($10–100B valuation)

reach Decacorn 0.095%

1 Centicorns($100B–1T valuation)

reach Centicorn 0.095%

Pre-Seed

192

Seed

329

Series A

225

Series B

143

Series C

Unicorn

Decacorn

* C→Unicorn and Unicorn→Decacorn rates are derived from current counts (no founding-cohort data); the four mid-funnel rates use Dealroom's cohort tracking.

Quarterly report

Hangzhou's latest quarter in venture capital

VC raised by Hangzhou-headquartered companies in the quarter shown, against the quarter before and the same quarter a year earlier.

Latest complete quarter

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Largest rounds

Largest funding rounds in Hangzhou

A live treemap of the largest VC rounds. Each cell is one round into Hangzhou-headquartered companies, grouped by Dealroom sector.

Largest rounds in Hangzhou - 2026

Every $15M+ VC round into Hangzhou-headquartered companies in 2026, grouped by Dealroom sector.

- rounds · - raised

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VC investment

How much venture capital flows into Hangzhou

VC investment into Hangzhou-headquartered, VC-backed companies, broken down by round size, company location, sector and funding stage.

Academia

Hangzhou's academic flywheel

Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to Hangzhou.

University-linked startup formation

University spinouts

194

Total alumni-founded companies

109

Of which startups (<$15M raised)

Breakouts ($15M-100M)

Scaleups ($100M+)

Top universities producing founders tied to Hangzhou

🇨🇳 Tsinghua University Beijing · 200 alumni unicorns

Notable alumni-founded: MeituanPinduoduoByteDance (co-founders)Zhipu AI

Unlock the full university ranking for Hangzhou on Dealroom

Location comparison

How Hangzhou stacks up

Compare Hangzhou with peers from the same country (China) — switch between combined EV, EV growth, and a growth × size view. Expand the table for the full ranking.

Yangtze Delta Region

$2.1T

Jingjinji Metropolitan Region

$1.8T

Beijing

$1.7T

Shanghai

$1.1T

Shenzhen

$1T

Hangzhou

$641B

Guangzhou

$208B

Combined enterprise value of each ecosystem.

Top cities in China ranked by combined EV. Hangzhou's row is highlighted (#6).

#	Ecosystem	Combined EV	EV growth	Unicorns	VC invested	Tracked startups
1	Yangtze Delta Region	$2.1T	3.9×	219	$10.2B	7,073
2	Jingjinji Metropolitan Region	$1.8T	3.7×	179	$6.8B	4,518
3	Beijing	$1.7T	3.7×	175	$6.7B	4,332
4	Shanghai	$1.1T	7.3×	140	$4.7B	3,591
5	Shenzhen	$1T	20.5×	54	$2.4B	2,252
6	Hangzhou	$641B	1.8×	37	$2.2B	1,452
7	Guangzhou	$208B	3.7×	17	$891.8M	1,546
8	Nanjing	$109B	6.7×	10	$338.4M	491
9	Suzhou	$94.5B	18.2×	14	$1.1B	652
10	Wuhan	$32.5B	7.0×	8	$420.9M	349
11	Chengdu	$31.5B	25.2×	5	$410.2M	403
12	Chongqing	$24.4B	15.0×	5	$1B	178

More data

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Country China Asia · Pop. 1409M · #2 startup ecosystem by EV Region Asia Continent / region · Pop. 4694.6M · #4 region by EV

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