Nine IoT Startups Making Waves
As the market for connected devices gains ground, a range of Internet of Things (IoT) startups are cashing in on the revolution. From providing platforms for IoT to building machine-to-machine (M2M) devices and creating out-of-the-box, end-to-end IoT solutions, here are nine innovative companies you should be watching right now.
1. Afero: Keeping Devices Connected
According to TechCrunch, Afero obtained $20.3 million in venture funding in May 2016. This Los Altos, California, startup manufactures a proprietary chip to keep IoT devices online even when Wi-Fi is down. By using 4G LTE and other radio sensors, the chip becomes a device identifier that can interact with routerlike hardware to connect smart devices to cloud applications. Plus, Afero offers APIs and mobile monitoring solutions to secure data as it passes between devices and the cloud.
2. Bayshore Networks: Security
Based in New York City, Bayshore offers an IoT security solution to protects connected devices from remote attacks. Founded in 2012, this IoT startup provides insight into applications, IoT infrastructure, individual devices and users. Bayshore recently announced an influx of Series A funding which will enhance its efforts.
3. BluFlux: Antennas and Communications
Every connected device needs an antenna — and that’s where BluFlux shines. Named Colorado’s 2015 Startup of the Year, BluFlux goes beyond just manufacturing antennas by partnering with device manufacturers to create custom solutions. Their CTIA-certified testing lab equips customers to pass carrier and manufacturer over-the-air tests. It also allows customers to develop peripherals to work with larger device manufacturers to meet their partners’ rigorous licensing requirements.
4. Filament: Blockchain Potential
Filament has created a decentralized software stack for connected devices to store their identities on a blockchain-powered public ledger. Once devices have their unique identifiers, they can conduct transactions and communicate securely through smart contracts. And because they don’t need to communicate through a central cloud system first, the devices are more efficient.
According to CoinDesk, Filament has many early supporters. CEO Eric Jennings says Filament monetizes by creating and owning the smart contracts that govern blockchain-based communications.
5. FogHorn: Pioneering Edge Intelligence
FogHorn, a startup based in Nevada, provides edge intelligence for connected devices. By moving tasks like network monitoring and analytics to the edge and out of the cloud, FogHorn helps businesses cut their cloud usage costs. Basic workloads happen at the edge, with cloud resources dedicated only to advanced analytics, application portability and provisioning orchestration. According to CRN, FogHorn earned $12 million in Series A funding last July.
6. Greenbird: All About the Power
Greenbird Integration Technology, which recently snagged $5 million from Statkraft Ventures and ETF Partners, created a communication platform called Metercloud to allow smart meters, power generation facilities and accounting systems to easily communicate with each other. Another power grid solutions, Ghostwriter, helps utilities and other players test smart meter systems prior to rollout. It also helps utilities monitor how different scenarios affect the electrical grid, such as a future influx of intelligent transportation systems.
7. LitBit: Data Center Management
LitBit supports IoT networks by enhancing data center management. The platform, RhythmOS, helps legacy systems communicate with new devices by translating older system languages into a universal API understandable by multiple systems. According to Data Center Knowledge, integrating these systems will improve data center automation. Customers can either develop their own automation applications with the LitBit API or use applications LitBit has created for tasks like infrastructure monitoring and management.
8. Samsara: Instant IoT Deployment
Samsara is one of the few IoT startups that enables end-to-end, out-of-the-box M2M deployments. Samsara recognizes IoT devices have certain core functions, like recording temperatures, monitoring power usage or sensing conditions in an industrial environment. Once customers choose the right functional devices and network gateways, they can deploy out of the box, with cellular connectivity between devices and scalable cloud architecture to support them. The San Francisco startup has support from venture capital heavyweights including Marc Andreeson.
9. Worldsensing: Several IoT Startups in One
Barcelona-based startup Worldsensing creates sensors designed to connect smart cities. Since 2008, Worldsensing has offered Fastprk, an application that provides cities with simplified parking management. The company also acquired Bitcarrier, a product that collects traffic information and helps cities optimize traffic flow. Plus, Worldsensing also provides solutions for industries, such as mining, oil and gas and sensors to monitor the health of city infrastructure.
Startups are the hub for innovation in technology, and IoT is clearly no exception. Keep these up-and-coming players on your business radar as the IoT industry continues to expand.