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!
1. Stringify
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.
2. Revolar
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.
Next up on CBR’s IoT Startups to watch: Which startup did a former Yahoo data centre manager set up in 2013?
4. Litbit
The company Litbit is headquarted in San Jose, CA, and was founded by Jean Paul Balajadia, and Scott Noteboom in 2013, a previous Yahoo data centre manager. In 2016 the company received a huge $7 million in funding from investors including lluminate Ventures, Correlation Ventures, and Storm Ventures.
Litbit is the developer behind the Rhythm OS, which is designed to greatly enhance the running of IoT systems and processes. The OS allows the sharing of insights and integrations in enterprise workplaces, using a secure data pipeline, either on premise, in the cloud, or mobile.
The startup team came together from an array of distinguished backgrounds including Apple, Yahoo, Microsoft, Cisco, and Intel to create a system that is capable of removing barriers between IoT systems to ensure they are truly connected and unsiloed.
5. EVRYTHNG IoT
EVRYTHNG IoT was founded in 2011 by Dominique Guinard, Andy Hobsbawm, Vlad Trifa, and Niall Murphy, and is based in New York. The company say in their mission statement that they are committed to the belief that eventually everything will be connected, and they want to be at the forefront of that. In March of this year, the company managed to secure over $24 million in funding led by Sway Ventures, and Generation Ventures. Previous investors include Cisco Investments, Samsung, and BHLP.
EVRYTHNG IoT offers a platform for smart products that is capable of connecting numerous IoT devices to a single network. Currently the company offers solutions specific to many different industries including food and beverages, health and wellness, consumer electronics, and even insurance, with plans to expand to more, no doubt.
EVRYTHNG IoT allows users to monitor connected devices, foster consumer engagement, and protect their brand. The mission statement of the company was to bring every aspect of life together and make it digitally manageable, and they are well on the way to achieving that goal.
6. Device Authority
Device Authority was founded in 2013, by Jon Penney and Talbot Harty and is headquartered in Bracknell Forest. In April of last year the company merged with Cryptosoft and kept the Device Authority name. Regarding funding, the company has raised £2.5 million since the merger in a funding round which was led by Tern PLC, and Alsop Louie Partners.
Device Authority is a new way to ensure that your IoT devices are secure. Currently IoT security is a very big talking point, major hacks of unsecure devices in the last twelve months have led many to re-evaluate their stance on just how efficient the IoT can be if it’s so vulnerable. Thankfully companies like Device Authority have introduced new methods to ensure these devices remain uncompromised.
The Device Authority Key Scaler works by establishing which devices can and cannot be trusted on the network. Customers are able to securely register and update their devices through unique policy-based security controls in a way that has been designed to be safe from the ground up.
7. Notion
Notion is based in Denver Colarado, and was founded in 2013 by Ryan Margoles and Brett Jurgens. The company was established to bring new digital security methods into the physical home in order to properly protect them. In 2016, the company secured $3.2 million in funding from investors, as well as $280,000 through Kickstarter, well beyond its $50,000 goal on the crowdfunding site.
Notion offer a motion based sensor that allows users to monitor their entire home from their smartphones, no matter where they go. The unique sensor is capable of distinguishing when a door is open, be it a front door, or cabinet door, sending temperature alerts if the house is too hot or cold, and even notifying home owners if there is a water leak.
Notion is changing the way we think of smart homes with its easy installation, and simple use. To install the device users simply after place the sensor in their home and undertake a few short tests. Notion have already changed the game of smart home monitoring, so it’s most definitely worth keeping an eye out to see what they accomplish next.
Next up on CBR’s IoT Startups to watch: An Israeli company looking to go big with IoT security.
8. Losant
Losant, was founded in 2015 by Charlie Key, Michael Kuehl, and Brandon Cannaday and is based in Cincinnati Ohio. In 2016 the company raised $1.3 million from one investor, shortly after the company also received an undisclosed amount from Cincinnati investor group CincyTech.
Losant is another analytics platform which allows customers to deliver innovative new experiences to their customers and use the data they gather to discover new insights into the way they conduct their business.
Losant allows millions of devices to be connected at once in order to view, manage, and act on data collected from IoT networks. The company have identified that one of the biggest problems with the IoT is the current lack of interoperability between devices, and as such, are dedicated to removing these barriers to ensure that businesses can take full advantage of this new revolution.
9. Securithings
Securithings was founded by Raanan Lidji and Roy Dagan in 2014, and are currently headquartered in Tel Aviv. The two have 15 years in cybersecurity between them and as such are committed to identifying threats before they can do any real damage. In 2016 the company received funding in the form of an undisclosed amount from Microsoft Accelerator, and ICONYC labs.
Securithings is another solution for IoT security issues, something which is an enormous concern for a lot of people. The Securithings platform works by analysing the usage and patterns of IoT devices in order to determine if there is a possible threat present in the system. The platform is capable of analysing the patterns of users, both human and machine, and can recognise any abnormalities and alert users in order for them to take any possible corrective measures.
Securithings say that their platform is currently capable of integrating with many IoT setups of differing scales, whether that is an industrial process, a smart home, a smart building, or even an entire smart city. Securithings has proven to be a formidable opponent of malicious parties and this looks set to continue for some time.
10. Rachio
Rachio was founded in 2012 and is currently headquartered in Denver Colorado by, Chris Klein, Matt Reisman, and Franz Garsombke. The company was established in response to the growing concerns over drought in the western half of the united states and aimed to monitor smart water usage, via WiFi. In 2015 the company was able to garner enough interest to receive $7.1 million dollars via investors including Arborview Capital. To date the company has raised over $10 million.
Rachio is much more of a luxury IoT project, but that doesn’t mean that this innovative smart sprinkler solution should be overlooked. The Rachio sprinkler system is a new way to ensure that your garden gets the proper amount of care that it requires, by using local forecasts, information on soil and plant types, and sun exposure, the system is capable of producing a watering schedule for your garden to ensure maximum effectiveness at a minimal water cost.
The Rachio has been available for some time but just recently it has been upgraded to include Google Home support, so this easy to install piece of tech just got even easier. It’s hard to say where the company can take the world of garden maintenance next, but I’m sure many people never thought it could have gotten here to begin with.
