Startup funnel
Hangzhou's startup funnel
Companies headquartered in Hangzhou at each stage today, by total VC raised. Hover or tap a bar for the split.
Source: Dealroom.co
Quarterly report
Hangzhou's latest quarter in venture capital
Venture capital raised by Hangzhou-headquartered companies each quarter since 2020, split by round size, with detail on the latest complete quarter.
Latest complete quarter
Loading VC raised by Hangzhou-headquartered companies…
Enterprise value
How much Hangzhou’s VC-backed companies are worth
Combined enterprise value of VC-backed companies headquartered in Hangzhou, founded since 1990 and still operating, at the end of each year. Companies stay in the total after they list or are acquired.
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.
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
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.
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Notable alumni-founded: MeituanPinduoduoByteDance (co-founders)Zhipu AI
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.
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 | 2.7× | 222 | $10.2B | 7,096 |
| 2 | Jingjinji Metropolitan Region | $1.7T | 3.6× | 182 | $6.8B | 4,525 |
| 3 | Beijing | $1.6T | 3.5× | 178 | $6.7B | 4,339 |
| 4 | Shanghai | $1T | 5.0× | 141 | $4.7B | 3,601 |
| 5 | Shenzhen | $1T | 1.9× | 54 | $2.3B | 2,275 |
| 6 | Hangzhou | $627B | 1.2× | 38 | $2.2B | 1,462 |
| 7 | Guangzhou | $182B | 14.5× | 17 | $891.8M | 1,547 |
| 8 | Nanjing | $107B | 7.1× | 11 | $338.4M | 491 |
| 9 | Suzhou | $93.4B | 18.0× | 14 | $1.1B | 653 |
| 10 | Wuhan | $32.4B | 4.7× | 8 | $435.9M | 350 |
| 11 | Chengdu | $30.8B | 24.6× | 5 | $410.2M | 406 |
| 12 | Chongqing | $24.4B | 15.0× | 5 | $1B | 178 |
More data
Explore Dealroom data →Get the full Hangzhou ecosystem on Dealroom
Live company-by-company deal flow, full cap tables, founder pedigrees, hiring signals and revenue trajectories.