Internet of things startups

How Internet of things startups are shaping traditional industries.

“In the twentieth century, computers were brains without senses — they only knew what we told them. In the twenty-first century, because of the Internet of Things, computers can sense things for themselves.”

Kevin Ashton, MIT, coined the term “IoT”. 

Around 28 billion connected devices are forecast by 2021, of which close to 16 billion will be related to Internet of Things [1]. The combination of cutting-edge technologies such as Artificial Intelligence, Big Data or Cloud Computing will turn on an amazing scenario of opportunities as well as a transformation movement within most of the industries.

Investors are already putting their money on it. The investment in Internet of Things startups is predicted to rise up to $8.000M and the growth forecast is about 15% [2].

During the last few years, the number of IoT deals has been decreasing slightly, whereas the amount of investment has continued to grow,  showing a panorama of market consolidation and enlargement.

Let’s take a look at the high growth areas on the Internet of things field:

― Automotive

Hot topics in the Industry: Car Sharing, Autonomous Car, Connected Cars, On-Board diagnosis, Car Telematics.

Total Investment (2016)*: $1.180.000.000

Interesting Startups in this field:

  • GogoroSeries B, $180M. Electric Scooters and Battery Swapping Infrastructure. Its battery-powered motor scooters can be monitored via smartphone app and subscription-paying customers can swap batteries at Gogoro Energy Network stations.
  • ChargePointSeries D, $155.3M. One of the world’s largest Open Networks for electric vehicle charging. They also provide smart network services, advanced cloud-software and technical support.
  • MetroMileSeries D, $205M. Pay-per-mile car insurance provider that charges customers for the actual miles they drive. If you spend less time behind the wheel, you spend less money on insurance. MetroMile also provides a free plug-in device for your car that connects to a free app that teaches you how to spend less on gas and shorten commutes.

― Manufacturing

Hot topics in the Industry: Biometrics, 3D-printing, Computer Vision, Augmented Reality/Virtual Reality, Robotics, Smart Inventory, Microelectronics.

Total Investment (2016)*: $2.600.000.000

Interesting Startups in this field:

  • Quanergy SystemsSeries B, $135.30M. Real-time 3D mapping solutions while performing object detection, tracking and identification. Quanergy’s solutions have applications in more than 30 market verticals including transportation, security, terrestrial/aerial mapping and industrial automation.
  • Carbon3DSeries C, $222M. Developers of a new process for 3D printing: CLIP. CLIP eliminates the shortcomings of conventional 3D printing making possible to 3D print isotropic parts with mechanical properties and surface finish like injection-moulded plastics.
  • GuavusSeries E, $129M. Big data analytics applications for planning, operations, customer experience management and IOT. These applications uniquely bring together computer science, data science and domain science to provide real-time analytics that enables businesses to become more efficient, profitable and competitive.

― Healthcare

Hot topics in the Industry: Wearables, Biosensors, Patient Monitoring, Chronic Monitoring, Ingestible, Body Sensors.

Total Investment (2016)*: $2.000.000.000

Interesting Startups in this field:

  • Flatiron Health: Series C, $313M. Flatiron Health organizes the world’s oncology information and makes it useful for patients, physicians, life science companies and researchers. Their software connects community practices and cancer centres on a common technology infrastructure to address key healthcare challenges. Their goal is to power a national benchmarking and research network to transform how cancer care is delivered.
  • HeartFlow: Private Equity, $226M. A medical software start-up that has received international recognition for exceptional strides in healthcare innovation. They are changing cardiovascular healthcare through improvements in the accuracy of non-invasive tests for Coronary Artery Disease, the most common form of Heart Disease and the number one killer of men and women in the United States.
  • Thalmic Labs: Series B, $135.51M. Their Myo armband reads the electrical activity of your muscles to control technology such as prosthetic arms with gestures and motion, hands-free. Recognized pioneers in new ways of interacting wirelessly with computers, phones, and other digital technologies.

― Home

Hot topics in the Industry: Home Automation, Smart Locks, Smart Meters, Pet Monitor, Domotics, Energy Monitor, Home Devices.

Total Investment (2016)*: $2.000.000.000

Interesting Startups in this field:

  • GizWitsSeries B, $200M. An IoT technology platform that connects home appliances and consumer electronics products to the Internet and smartphones.
  • Ring: Series C, $100M. The Ring Video Doorbell is the world’s first Wi-Fi video doorbell. The device enables homeowners to see and speak with visitors from anywhere in the world by streaming live audio and video of a home’s front doorstep directly to their mobile phone.
  • eero: Series B, $90M. A new kind of home WiFi. eero’s devices work in perfect unison to deliver hyper-fast, super-stable WiFi to every square foot of your house. It’s simple to set up and to manage.

― Utilities

Hot topics in the Industry: Energy Efficiency, Energy Saving, Real-time Diagnosis, Smart Grid, Smart Farm, Smart City, Clean Tech.

Total Investment (2016)*: $2.200.000.000

Interesting Startups in this field:

  • Silver Spring NetworksPublic IPO, $358.9M. Their open, standards-based networking solutions enable all energy devices from in-home energy devices to smart meters to load control devices, to connect together to deliver the highest possible performance.
  • ViewLate Stages, $445M. Their Dynamic Glass tints automatically in response to outdoor conditions reducing heat and glare anticipating to the sun’s movement providing an enhanced occupant experience and optimum natural light and thermal comfort.
  • PhononicSeries E, $159M. Their patented, high-performance thermoelectric devices can be applied to everything from refrigeration to fiber optics, removing the barriers of traditional approaches and ushering in a new era of cooling and heating.

In conclusion:

The Internet of Things is meant to be the next revolution because of its appointed role of connecting the digital world with the physical world. IoT models will define the future of the way businesses, governments, and consumers interact. IoT will definetly shape, and in fact is already shaping, industries as far as we know.

It is time for industries to look around and outside, and envision new models that can transform the way they are working. It is time for industries to find a way to become connected.

References:

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