# Corporate VCs backing Hardware & Electronics (2026 list)

> 77 corporate VCs backing Hardware & Electronics, 96% active in the last 12 months. Led by Intel Capital, Google Ventures, Salesforce Ventures.

Source: https://millionrounds.com/lists/corporate-vcs-hardware (Millionrounds; every figure on the page links to its filing or article)

[Investor Lists](https://millionrounds.com/lists)

# Corporate VCs backing Hardware & Electronics

Updated 7 November 2026

Corporate VCs we have observed in a hardware & Electronics round in the last two years.

[See all 77 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fcorporate-vcs-hardware)The top 25

**77** investors on the list No change this week

**987** cheques in 12 months *+12%* against the market

**$27M** median round they joined *+238%* against the market median

**96%** wrote a cheque in 12 months

**56%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (25)

- 1 [Intel Capital](https://millionrounds.com/fund/intel-capital) *Deploying now* Corporate VC · United States **1,123** **$22M** median round **Oct 2026** last seen
- 2 [Google Ventures](https://millionrounds.com/fund/gv) *Deploying now* Corporate VC · United States **884** **$38M** median round **Oct 2026** last seen
- 3 [Salesforce Ventures](https://millionrounds.com/fund/salesforce-ventures) *Deploying now* Corporate VC · United States **649** **$26M** median round **Nov 2026** last seen
- 4 [Coinbase Ventures](https://millionrounds.com/fund/coinbase) *Deploying now* Corporate VC · United States **465** **$9.8M** median round **Nov 2026** last seen
- 5 [Endeavor Catalyst](https://millionrounds.com/fund/endeavor-catalyst) *Deploying now* Corporate VC · United States **318** **$30M** median round **Oct 2026** last seen
- 6 [Samsung Next](https://millionrounds.com/fund/samsung-next) *Deploying now* Corporate VC · United States **311** **$15M** median round **Nov 2026** last seen
- 7 [M12](https://millionrounds.com/fund/m12) *Deploying now* Corporate VC · United States **300** **$30M** median round **Oct 2026** last seen
- 8 [Qualcomm Ventures](https://millionrounds.com/fund/qualcomm-ventures) *Deploying now* Corporate VC · United States **228** **$20M** median round **Oct 2026** last seen
- 9 [Cisco](https://millionrounds.com/fund/cisco) *Deploying now* Corporate VC · United States **158** **$35M** median round **Sept 2026** last seen
- 10 [SoftBank BB Corp](https://millionrounds.com/fund/softbank) *Deploying now* Corporate VC · Japan **158** **$159M** median round **Oct 2026** last seen
- 11 [M Ventures](https://millionrounds.com/fund/m-ventures) *Deploying now* Corporate VC · Switzerland **143** **$15M** median round **Sept 2026** last seen
- 12 [Sony Innovation Fund](https://millionrounds.com/fund/sony-innovation-fund) *Deploying now* Corporate VC · Japan **142** **$10M** median round **Sept 2026** last seen
- 13 [Eli Lilly](https://millionrounds.com/fund/eli-lilly) *Deploying now* Corporate VC · United States **137** **$56M** median round **Nov 2026** last seen
- 14 [Cisco Investments](https://millionrounds.com/fund/cisco-investments) *Deploying now* Corporate VC · United States **128** **$30M** median round **Oct 2026** last seen
- 15 [Rabobank](https://millionrounds.com/fund/rabobank) *Deploying now* Corporate VC · Netherlands **122** **$3.2M** median round **Nov 2026** last seen
- 16 [SE Ventures](https://millionrounds.com/fund/se-ventures) *Deploying now* Corporate VC · United States **112** **$16M** median round **Oct 2026** last seen
- 17 [British Business Bank](https://millionrounds.com/fund/national-security-strategic-investment-fund) *Deploying now* Corporate VC · United Kingdom **105** **$6.3M** median round **Nov 2026** last seen
- 18 [Microsoft](https://millionrounds.com/fund/microsoft) *Deploying now* Corporate VC · United States **105** **$50M** median round **Sept 2026** last seen
- 19 [Chevron Technology Ventures](https://millionrounds.com/fund/chevron-technology-ventures) *Deploying now* Corporate VC · United States **104** **$17M** median round **Sept 2026** last seen
- 20 [Hana Ventures](https://millionrounds.com/fund/hana-ventures) *Deploying now* Corporate VC · South Korea **102** **$6.2M** median round **Jul 2026** last seen
- 21 [Societe Generale](https://millionrounds.com/fund/societe-generale-2) *Deploying now* Corporate VC · France **94** **$129M** median round **Oct 2026** last seen
- 22 [Chiratae Ventures](https://millionrounds.com/fund/chiratae-ventures) *Deploying now* Corporate VC · India **90** **$6.6M** median round **Oct 2026** last seen
- 23 [Rev1 Ventures](https://millionrounds.com/fund/rev1-ventures) *Deploying now* Corporate VC · United States **89** **$3M** median round **Mar 2026** last seen
- 24 [Swisscom Ventures](https://millionrounds.com/fund/swisscom-ventures) *Deploying now* Corporate VC · Switzerland **83** **$17M** median round **Jul 2026** last seen
- 25 [Lockheed Martin](https://millionrounds.com/fund/lockheed-martin-ventures) *Deploying now* Corporate VC · United States **80** **$27M** median round **Oct 2026** last seen

**52 more on this list**

All 77 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000.

[See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fcorporate-vcs-hardware)

## The Newest Cheques

Rounds this list's investors joined most recently

- **5** Nov **[T-Therapeutics](https://millionrounds.com/company/t-therapeutics)** Series B · $133M *Led by* [British Business Bank](https://millionrounds.com/fund/national-security-strategic-investment-fund)
- **5** Nov **[Soter Insure](https://millionrounds.com/company/soter-insure)** Series B *With* [Coinbase Ventures](https://millionrounds.com/fund/coinbase)
- **5** Nov **[firmly](https://millionrounds.com/company/firmly)** Series A · $15M *With* [Samsung Next](https://millionrounds.com/fund/samsung-next)
- **5** Nov **[Return](https://millionrounds.com/company/return)** Debt · $936M *With* [Rabobank](https://millionrounds.com/fund/rabobank)
- **5** Nov **[Zipline](https://millionrounds.com/company/zipline)** Growth · $1.5B *With* [Salesforce Ventures](https://millionrounds.com/fund/salesforce-ventures)
- **5** Nov **[altM](https://millionrounds.com/company/altm)** Series A · $10M *Led by* [Rainmatter by Zerodha](https://millionrounds.com/fund/rainmatter-by-zerodha)

## Stages This Year

876 rounds

- Series A **18%**
- Venture **16%**
- Series B **14%**
- Seed **13%**
- Series C **8%**
- Other **31%**

## What They Backed

Sectors, last 12 months

- AI **361**
- Hardware & Electronics **63**
- Fintech **62**
- Energy **61**
- Biotech **58**
- Big Data & Analytics **56**

## Cheques by Quarter

Led Joined

234 Q1 25

208 Q2 25

240 Q3 25

280 Q4 25

314 Q1 26

246 Q2 26

246 Q3 26

79 Q4 26

The last bar is the quarter still running.

## Lists Like This

- [VC firms backing AI 4,329](https://millionrounds.com/lists/vc-firms-ai)
- [VC firms backing Fintech 1,856](https://millionrounds.com/lists/vc-firms-fintech)
- [VC firms backing Big Data & Analytics 1,248](https://millionrounds.com/lists/vc-firms-big-data)
- [VC firms backing Biotech 1,207](https://millionrounds.com/lists/vc-firms-biotech)
- [VC firms backing Robotics 1,098](https://millionrounds.com/lists/vc-firms-robotics)
- [VC firms backing Construction 1,025](https://millionrounds.com/lists/vc-firms-construction)
- [VC firms backing Energy 998](https://millionrounds.com/lists/vc-firms-energy)
- [PE firms backing AI 956](https://millionrounds.com/lists/pe-firms-ai)
- [VC firms backing Cybersecurity 950](https://millionrounds.com/lists/vc-firms-cybersecurity)

[All investor lists *→*](https://millionrounds.com/lists)

## Reading for founders in hardware and deep tech

- The One Device: The Secret History of the iPhone Brian Merchant · 2017 3.89 from 1,949 ratings on Goodreads Hardware and deep tech About the book We know the iPhone as the device that transformed our world, changing everything from how we talk to each other and do business, to how we exercise, travel, shop, and watch TV. But packed within its slim profile is the fascinating, untold story of scientific, technological, and… On AmazonListen on Audible
- The British Industrial Revolution in Global Perspective Robert C. Allen · 2009 3.99 from 277 ratings on Goodreads Hardware and deep tech About the book Why did the industrial revolution take place in eighteenth-century Britain and not elsewhere in Europe or Asia? In this convincing new account Robert Allen argues that the British industrial revolution was a successful response to the global economy of the seventeenth and… On AmazonListen on Audible
- Made in the USA: The Rise and Retreat of American Manufacturing Vaclav Smil · 2013 3.77 from 518 ratings on Goodreads Hardware and deep tech About the book In Made in the USA, Vaclav Smil powerfully rebuts the notion that manufacturing is a relic of predigital history and that the loss of American manufacturing is a desirable evolutionary step toward a pure service economy. Smil argues that no advanced economy can prosper without… On AmazonListen on Audible
- Behemoth: A History of the Factory and the Making of the Modern World Joshua B. Freeman · 2018 3.83 from 864 ratings on Goodreads Hardware and deep tech About the book "Freeman’s rich and ambitious Behemoth depicts a world in retreat that still looms large in the national imagination.…More than an economic history, or a chronicle of architectural feats and labor movements." ―Jennifer Szalai, New York Times In an accessible and timely work of… On AmazonListen on Audible

More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&model=hardware).

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about corporate VCs backing Hardware & Electronics

### Who are the most active corporate VCs backing Hardware & Electronics?

By cheques observed, the most active are Intel Capital, Google Ventures, Salesforce Ventures, Coinbase Ventures and Endeavor Catalyst.

### How many corporate VCs backing Hardware & Electronics are there?

77 are on record. 96% made an investment in the last 12 months and 56% have led a round.

### Which stages do corporate VCs backing Hardware & Electronics back?

Of the rounds with a named stage in the last 12 months, mostly Series A (25%) and Series B (19%).

### How big are the rounds corporate VCs backing Hardware & Electronics join?

The typical (median) round among the leading investors here is $20M.

### Which sectors do corporate VCs backing Hardware & Electronics back most?

In the last 12 months, mostly AI, Hardware & Electronics and Fintech.

### Which corporate VCs backing Hardware & Electronics lead the most rounds?

Google Ventures (33 led), SoftBank BB Corp (23 led) and Intel Capital (19 led).

### Where are corporate VCs backing Hardware & Electronics based?

Among the most active, most are based in the United States (16), Japan (2) and Switzerland (2).

### What have corporate VCs backing Hardware & Electronics invested in recently?

Recent rounds include T-Therapeutics (Series B, Nov 2026, with British Business Bank), Soter Insure (Series B, Nov 2026, with Coinbase Ventures) and firmly (Series A, Nov 2026, with Samsung Next).

Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)