Chinese Tech Startups Flock to Foreign Crowdfunding Platforms

(Nikkei Asia) — For a growing cohort of Chinese tech startups, overseas crowdfunding platforms serve as springboards to expansion into key markets abroad. These companies are using online fundraising sites to enhance their name recognition and lift sales in markets outside China.

EcoFlow, a manufacturer of portable batteries, has staged successful fundraising campaigns on U.S. crowdfunding platforms including Kickstarter, which mostly raises money for creative projects like art, music, film and technology. The Chinese company has also raised more than 1.1 billion yen ($9.7 million) on Japan’s Makuake.