Top Hardware Startups in the Bay Area
Discover the landscape of the Bay Area's hardware startup scene with our curated list of top players. We've compiled a diverse set of companies, from scrappy disruptors to unstoppable giants. All are projected to grow at least 2x over the next four years. The Bay Area has long been a powerhouse for software companies, could hardware be next?
AndurilCosta Mesa, CA
2x
Very Low Risk
Series G
1k+
2025
$30B
Physical IntelligenceSan Francisco, CA
2x
Moderate Risk
Series A
50-100
2024
$2.4B
The Bot CompanySan Francisco, CA
3x
Moderate Risk
Seed
0-50
2025
$1B-$3B
SpaceXHawthorne, CA
2x
Very Low Risk
Series F
1k+
2024
$350B
AescapeNew York, NY
3x
High Risk
Series A
100-250
2025
$250M
PsiQuantumPalo Alto, CA
3x
Moderate Risk
Series D
250-500
2021
>$3.1B
Crusoe Energy SystemsDenver, CO
2x
Low Risk
Series D
500-1k
2024
$2.8B
VerkadaSan Mateo, CA
3x
Very Low Risk
Series E
1k+
2025
$4.5B
Name
Rating
Exit Risk
Anduril2xVery Low- Physical Intelligence2xModerate
- The Bot Company3xModerate
- SpaceX2xVery Low
- Aescape3xHigh
- PsiQuantum3xModerate
- Crusoe Energy Systems2xLow
- Verkada3xVery Low
Stage
Employees
Industry
Investors
Primary office
Tags
- Series G1k+AI/ML+2American DynamismHardwareGeneral Catalyst+2Founders FundAndreessen HorowitzCosta Mesa, CA>$100M in revenue+10Projected to hit $1B in revenue by 2026Estimated $625M in new government contracts in 2023Large Market CapRepeat Unicorn FounderCategory LeaderRecent Fundraise (<6mo)Nascent Large MarketEx-FAANGM TeamFundraised Since Market DownturnBacked by Top Investors
- Series A50-100AI/ML+1HardwareKhosla Ventures+2Redpoint VenturesSequoia CapitalSan Francisco, CAFemale Founder+3Early StageEx-FAANGM TeamBacked by Top Investors
- Series F1k+American Dynamism+1HardwareSequoia Capital+2Founders FundAndreessen HorowitzHawthorne, CA>$1B in revenue+10>1.5M Starlink customers2X revenue expected in 2023, targeting $8B$3B in operating profits expected in 2023Projected $50B in annual revenue for StarlinkProfit of $55M on $1.5B revenue in Q1 2023Large Market CapRepeat Unicorn FounderCategory LeaderFundraised Since Market DownturnBacked by Top Investors
- Series A100-250Bio & Health+2HardwareConsumerNew York, NYNascent Large Market+1Fundraised Since Market Downturn
- Series D250-500American Dynamism+1HardwareRedpoint Ventures+1Founders FundPalo Alto, CAMoonshot+1Backed by Top Investors
- Series D500-1kAmerican Dynamism+2ClimateHardwareFounders FundDenver, COCategory Leader+4Nascent Large MarketScaling QuicklyFundraised Since Market DownturnBacked by Top Investors
- Series E1k+American Dynamism+1HardwareSequoia CapitalSan Mateo, CA2x YoY revenue growth (Sep '21 to Sep '22)+5Repeat Unicorn FounderCategory LeaderEx-FAANGM TeamFundraised Since Market DownturnBacked by Top Investors