With connected devices like Nest and Sonos breaking into the mainstream, the IoT has become one of the most-discussed tech trends of the last twenty years. And the hype is well founded: IoT startups have attracted a cumulative $7.4B in venture investment over the past 6 years, according to our data.
But the IoT extends well beyond the home and consumer-level gadgets. Asset-heavy industries like manufacturing, logistics, mining, oil, utilities and agriculture have also begun to apply IoT systems to improve efficiency and results. With machines and specialized sensors collecting data at every step of production, the potential gains from the Industrial Internet of Things (IIoT) are enormous.
So far, the IIoT wave has been led by the old guard of industrial tech companies such as GE, IBM, and Cisco, who envision the IIoT as a core component of their future businesses. GE, in particular, pioneered the term “Industrial Internet” when announcing its $1.5B R&D commitment back in 2012.
But more and more startups are attacking the needs of heavy industry by developing sensors, cloud platforms, networking infrastructure, as well as machine learning software to extract insights from the deluge of data.
Note: click image to enlarge.
We mapped the startup landscape into 9 major categories:
Manufacturing & Supply Chain
These companies are using connected objects to enhance data collection in manufacturing and in the supply chain. These companies include CargoSense‘s connected black boxes for detecting the movement of containers as they are shipped. Also included here are manufacturing robots like Momentum Machines and Rethink Robotics, along with warehouse robots like RoboCV.
Extraction & Heavy Industry
This section encompasses sensor platforms designed for use in hard-hat environments like the oil and gas, mining, and construction industries. Some startups are focused on specific verticals. Groundsensing (locating wells), Tachyus (extracting oil and gas), and Aptomar (spill safety) make sensor networks for oil and gas production. And Skycatch employs UAVs to capture data for the rendering of construction sites in 3D.
Network Infrastructure & Sensor Developers
Companies here are are building out the networks and developing the physical sensors that will undergird the IIoT as a whole. Samsara and DorsaVi develop industrial-grade sensors for a variety of applications including fleet management, machines, energy, and industrial wearables. Others like SigFox have built out the wireless networking for the IIoT.
Utilities & Smart Grid
Startups in this area develop tech that enables more efficient distribution of electricity, gas and water, and often market to utility companies. Trilliant, Tendril, and BluePillar are smart-meter enabled solutions for utilities and large enterprises to manage usage and reporting.
Cloud vendors here commonly market themselves as platforms-as-a-service (PaaS) companies that allow other IoT and IIoT companies to manage and maintain their device networks. Meshify and TempoIQ are examples here.
Big Data Analytics & Machine Learning SaaS
Big data software-as-a-service companies, or machine learning technology, allows companies to find insights and derive predictive analytics such as when machines will need maintenance.
Transportation & Fleet
Startups in this category are changing the landscape for connected vehicle fleets. Telogis and Greenroad, for example, develop fleet-tracking platforms using telematics data from large trucks. Others like Metromile are changing fleet insurance by using connected hardware to prorate insurance by mileage, a technology that is already being deployed to insure Uber drivers.
This category includes startups that are focusing on the large task of securing connected industrial IoT applications from cyberattack. The IIoT has already suffered serious hacks; a German steel mill suffered “massive damages” after hackers accessed a blast furnace that workers could not properly shut down. Bastille is one of several startups in the space.
Track all the IIoT startups in this brief and many more on our platform
Startups working on industrial sensor networks have potential to revolutionize manufacturing, logistics, and energy, just to name a few areas. Sign up for a free trial and look for IIoT in the Collections tab.
Industrial IoT Startups
See the full company list below:
|The Rise of IIoT|
|Wearable Intelligence||Lightspeed Venture Partners, Saudi Aramco Energy Ventures||Wearables|
|APX Labs||New Enterprise Associates, Salesforce Ventures||Wearables|
|Human Condition Safety||American International Group||Wearables|
|Augmedix||DCM Ventures, Emergence Capital Partners, Rock Health||Wearables|
|Quanttus||Khosla Ventures, Matrix Partners||Wearables|
|XOEye Technologies||Crestlight Venture Productions, Selous Venture Society||Wearables|
|Sentrian||Frost Data Capital, Tech Coast Angels||Wearables|
|Momentum Machines||Khosla Ventures, K5 Ventures||Manufacturing & Supply Chain|
|RoboCV||Almaz Capital Partners, Columbus Nova Technology Partners, I2BF Global Ventures||Manufacturing & Supply Chain|
|Impinj||AllianceBernstein, ARCH Venture Partners, Madrona Venture Group||Manufacturing & Supply Chain|
|Rethink Robotics||Bezos Expeditions, CRV, Draper Fisher Jurvetson, GE Ventures, Goldman Sachs, Highland Capital Partners, Sigma Prime Ventures||Manufacturing & Supply Chain|
|CargoSense||CIT GAP Funds, IrishAngels, New Dominion Angels||Manufacturing & Supply Chain|
|Xerafy||IPV Capital||Manufacturing & Supply Chain|
Houston Angel Network
|IIoT Cloud Platforms|
|Bit Stew Systems||BDC Venture Capital, Cisco Investments, GE Ventures, Yaletown Venture Partners||IIoT Cloud Platforms|
|Jasper Technologies||Benchmark Capital, Sequoia Capital, DAG Ventures||IIoT Cloud Platforms|
|Greenwave Systems||Craton Equity Partners, Westly Group||IIoT Cloud Platforms|
|TempoIQ||Chicago Ventures, Divergent Ventures, Hyde Park Angels, Hyde Park Venture Partners||IIoT Cloud Platforms|
|Tachyus||Founders Fund||Extraction & Heavy Industry|
|Eigen Innovations||BDC Venture Capital||Extraction & Heavy Industry|
|Aptomar||Investinor, ProVenture Management, Statoil Technology Invest, Verdane Capital||Extraction & Heavy Industry|
|GroundMetrics||Crescent Ridge Partners Ventures, Tech Coast Angels||Extraction & Heavy Industry|
|Skycatch||ff Venture Capital, Avalon Ventures||Extraction & Heavy Industry|
|Ineda Systems||Qualcomm Ventures||Network Infrastructure & Sensor Developers|
|SigFox||Samsung Ventures||Network Infrastructure & Sensor Developers|
|DorsaVi||Undisclosed Investors||Network Infrastructure & Sensor Developers|
|Samsara||Andreessen Horowitz||Network Infrastructure & Sensor Developers|
|Arrayent||DCM Ventures, Intel Capital||Network Infrastructure & Sensor Developers|
|PubNub||TiE Angels, Relay Ventures, Scale Venture Partners||Network Infrastructure & Sensor Developers|
|SmartCloud||Rockwell Automation||Network Infrastructure & Sensor Developers|
|Blue Pillar||Allos Ventures, Arsenal Venture Partners, Claremont Creek Ventures||Utilities & Smart Grid|
|Trilliant||Missionpoint Capital Partners, Zouk Capital, GE Healthcare||Utilities & Smart Grid|
|Enlighted||Draper Fisher Jurvetson, Intel Capital, Kleiner Perkins Caufield & Byers||Utilities & Smart Grid|
|Tendril Networks||Engie New Ventures, GE Healthcare, RRE Ventures, VantagePoint Capital Partners||Utilities & Smart Grid|
|Sensus||Synergy Flavors||Utilities & Smart Grid|
|Enbala||EnerTech Capital, Export Development Canada, GE Ventures||Utilities & Smart Grid|
|C3 Energy||InterWest Partners, Makena Capital Management||Big Data Analytics & Machine Learning SaaS|
|Maana||Frost Data Capital, GE Ventures, Intel Capital||Big Data Analytics & Machine Learning SaaS|
|Uptake||Caterpillar, GreatPoint Ventures, Lightbank, New Enterprise Associates||Big Data Analytics & Machine Learning SaaS|
|Ayla Networks||Cisco Investments||Big Data Analytics & Machine Learning SaaS|
|Worldsensing||Cisco Investments, Endeavor Global||Big Data Analytics & Machine Learning SaaS|
|Cirro||Frost Data Capital, Miramar Venture Partners||Big Data Analytics & Machine Learning SaaS|
|Skynet Labs||SURGE Ventures, SOSventures||Big Data Analytics & Machine Learning SaaS|
|Sight Machine||O’Reilly AlphaTech Ventures, IA Ventures||Big Data Analytics & Machine Learning SaaS|
|RtTech Software||McRock Capital, New Brunswick Innovation Foundation||Big Data Analytics & Machine Learning SaaS|
|Mnubo||McRock Capital, White Star Capital||Big Data Analytics & Machine Learning SaaS|
|Veniam||Cane Investments, True Ventures, Union Square Ventures||Transportation & Fleet|
|Telogis||Kleiner Perkins Caufield & Byers, Fontinalis Partners, GM Ventures||Transportation & Fleet|
|Greenroad||Balderton Capital, Virgin Green Fund, Amadeus Capital Partners||Transportation & Fleet|
|Cohda Wireless||Cisco Investments and NXP Semiconductors||Transportation & Fleet|
|Metromile||Felicis Ventures, Index Ventures, New Enterprise Associates||Transportation & Fleet|
|Mocana||Shasta Ventures, Southern Cross Venture Partners, Trident Capital, Symantec||IIoT Cybersecurity|
|Bastille||Bessemer Venture Partners, Chris Rouland, Tom Noonan||IIoT Cybersecurity|
|LaunchKey||VegasTech Fund, RimRock Venture Partners||IIoT Cybersecurity|
|Invixium||McRock Capital||IIoT Cybersecurity|
Want more data about top Internet of Things (IoT) companies? Login to CB Insights or sign up for free below.