Chinese startups saw their funding decline by more than 50% just in the first two months of the coronavirus outbreak in China. Almost half of startups in China lost between 50% and 100% of revenues since the pandemic. (Even so, another 26% actually saw their revenues rise during the pandemic.)
Recall that in China, active cases of CoViD-19 skyrocketed and lockdowns were imposed two months before Europe–and then North America–were struck. As funding became more difficult to get, tech startup capital sources also began to dry up. Now that China is back on the upswing, there are many enterprises searching for a re-up on their capital infusion. Now may be the best time to get involved, as China’s startups are now chomping at the bit.