IoT is growing at a tremendous rate, and it seems that every device is connected these days, but which are the startups to look out for?
In 2017 we have found ourselves well on our way through the IoT revolution. More and more devices are becoming connected to the network each year, and currently we have devices that are capable of doing anything from monitoring our water usage to controlling our ovens via text.
According to ABI Research, by 2020 there will be 40.9 billion active wireless connected devices and this will largely be non-hub devices like sensors. IDC forecasts that by 2020 the worldwide market for IoT will surpass $3 trillion.
However, whilst we know all about these weird and wonderful devices coming into our homes, what about the people making them? Who has been funding these miraculous devices? What could these innovative brains be working on next? Check out CBR’s list of the top 10 IoT start ups to watch this year!
Stringify was founded in 2014 by Dave Evans, Mike Yurochko, and Yaron Sheba and is based in Los Gatos, CA. The company currently processes over 2 million events a day with its customers and is committed to technology working for us, empowering us, and connecting the world in meaningful ways. In 2015 the company received $6.3 million in funding predominantly from ARTIS Ventures and OurCrowd, among other private investors.
Stringify offer a home automation app which can tie your many, many IoT devices and sensors together into one easily accessible package on your phone. This iOS and Android based app allows you to access the various applications in your home from anywhere at any time through the cloud.
In 2016, Stringify claimed numerous prestigious awards including the “Gartner Cool Vendor” award, a “Big 50” startup award, and two “Peoples Choice” IoT awards. The start up is also partnered with some of the biggest names in the world including Gmail, CNN, Yelp, Buzzfeed, and Steam.
Revolar, based in Denver, Colorado, was founded by CEO Jacqueline Ros and CPO Andrea Perdomo in 2013 to “create empowering technology that helps people keep themselves and their loved ones safe.” In 2015 The company raised over $83,000 via crowdfunding avenue Kickstarter, exceeding its $75,000 goal. On top of this the company also raised $80,000 via indiegogo for the second version of its product.
Revolar is the developer of a smart wearable, the Revolar Instinct, that goes above and beyond the usual trappings that have become part and parcel of the fairly ubiquitous ‘wearable’ market. Not only does the device connect to your phone to measure different statistics in your walking pattern but it can also utilise a warning system so you can let loved ones know if you’re safe with the press of a button.
One of the more convenient features, as I’m sure everyone will agree, is the ability to have the device send a phone signal to your smartphone in order to create the illusion of a phone call, in case you ever have the need to make a quick escape from one of those awkward social situations.
3. Sight Machine
Sight Machine, was founded in Ann Arbor, Michigan, by co-founders Jon Sobel, Adam Taisch, Kurt DeMaagd, Nathan Oostendorp, Anthony Oliver, in 2012. The company is made up of ex-Yahoo, Palantir, Tesla, Cisco, IBM, McKinsey, and Apple employees and has raised $25.5 million in funding from investors including GE Ventures, Jump Capital, Two Roads Group, Huron River Ventures and Orfin Ventures.
Sight Machine is manufacturing analytics start up that is quickly proving that it has the potential to be a major player in the industry. The IoT platform is able to accurately gather, analyse, interpret and display huge amounts of data in easily digestible visuals that not only show you what happened but also explain why it did
The ability to see and understand this information has allowed manufacturers to make better decisions in a fraction of the time. Thanks to the platform’s scalability it’s possible to analyse the process as a whole, sections of the process, or the individual machines themselves, across a wide range of different applications. Sight Machine is definitely one to watch for.