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Funding and validation

Hardware is fundable again, but under different labels and against different evidence than in the last cycle. These pieces cover how the money actually moves: which demand signals a serious investor treats as real, why the deep tech rebrand changed who gets funded, and why a round sized to reach the next gate tends to stall at it. The recurring argument is that evidence and money have to be sequenced together, because a hardware programme cannot pause cheaply.

Article

12 min read

Fund the Whole Phase, or Don't Start It

Why programmes that raise only to the next gate stall there, what a development phase costs, and how factories treat stop-start customers.

  • funding
  • hardware startups
  • npi
  • manufacturing

Article

12 min read

Ideas Are Cheap. Buyers Are Expensive.

How to test demand for a connected product in 2026, which signals count, and why a working prototype stopped being evidence.

  • hardware startups
  • validation
  • demand testing
  • pre orders

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