- 26,792 startups are relying on IoT as one of their main technologies to launch new products and services and support platform-based business models according to Crunchbase.
- 78.4% of IoT startups Crunchbase tracks have had two funding rounds or less with seed, angel and early-stage rounds being the most common.
- IoT startup funding reached $16.7B in Q4, 2018, with last years’ funding levels 94% over 2017 according to Venture Scanner.
- By 2020, 50% of IoT spending will be driven by discrete manufacturing, transportation and logistics, and utilities according to the Boston Consulting Group.
The most successful IoT startups selling into enterprises excel at orchestrating analytics, Artificial Intelligence (AI), and real-time monitoring to deliver exceptional customer experiences. As a group, these top 25 IoT startups are showing early potential at enabling profitable new business models, revitalizing industries that have experienced single single-digit growth recently. Each of these startups is taking a unique approach to solving some of the enterprises’ most challenging problems, and in so doing creating valuable new patents that further fuel IoT adoption and growth.
12. MagicCube – MagicCube is a device independent IoT security platform that protects against on-device, cloud, and network attacks. The MagicCube solution secures digital transactions on any device, in transit, and in the cloud with the same level of security as device hardware solutions without the complexity and cost associated with hardware deployments. MagicCube, Inc. has raised a total of $10.7M in funding over 2 Their latest funding was raised on Aug 8, 2017, from a Series A round.