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10 Internet of Things companies to watch

Bob Brown | April 13, 2016
Enterprise and consumer IoT companies attracting big investment dollars

Founded: 2012
Headquarters: Reno
Funding: More than $6 million, including a $5M Series A round in August led by Bullpen Capital and including Verizon Ventures.

Focus: Long-range wireless sensor networks for existing industrial infrastructure. Such networks could be used for everything from tracking stock in vending machines to keeping tabs on materials in farm silos to monitoring worker safety. The company’s hardware includes the Tap, which can be used to wirelessly connect old equipment, and the Patch, which vendors can build into their products to enable wireless connectivity. One element of the company’s secret sauce: blockchain technologies, such as those that have gained some prominence in bitcoin setups. Other features it boasts of – end-to-end message encryption and self-forming radio mesh networks. 

Filament tap
Filament Filament Tap gives wireless life to old equipment

Greenwave Systems
Founded: 2008
Headquarters: Irvine, Calif. 
Funding: $75 million in venture funding, including a $45M Series C round in 2016 led by EDBI, the corporate investment arm of Singapore Economic Development Board 

Focus: Greenwave’s AXON software and services platform is used by companies to provide a wide variety of managed IoT-oriented services to their customers. One marquee customer is Verizon, which offers a FiOS Quantum Gateway that Greenwave helped to develop. Greenwave introduced new Mobile IoT support during Mobile World Congress and says its technology can be used by managed service providers to handle billions of devices, including those used for tracking people, animals and cars. The company is led by Martin Manniche, former CTO at Cisco’s Consumer Business Group.
Founded: 2013
Headquarters: Krakow, Poland
Funding: More than $7M, including $5M in February, led by Credo Ventures

Focus: Secure and configurable beacon hardware (indoor or outdoor) and software for building proximity-aware IoT offerings. The company supports Bluetooth Low Energy, iBeacon and other communications technologies. The company’s founders started out by working on a way to help the visually impaired enjoy museum tours. lists GE and IBM as being among its customers.  

Founded: 2015
Headquarters: Cambridge, Mass.
Funding: $4.89M in seed funding, from Accomplice, .406 Ventures and Draper.

Focus: Cloud-based service that uses DARPA-funded indexed search to continuously monitor open source code, including on Internet of Things devices, for vulnerabilities. The company’s co-founders hail from Draper Laboratory, where they worked on cybersecurity technologies. You can sign up for a free trial here

Founded: 2009
Headquarters: San Francisco
Funding: Roughly $40 million, including a $25M Series C round in October led by Sapphire Ventures.
Focus: The company’s cloud-based Data Stream Network and complementary APIs enable developers to provide real-time connectivity and control for apps and IoT devices. The company claims it has more than 2,000 customers (McDonald’s, Coca-Cola, a bunch of niche IoT players, etc.) and partners, and averages more than 1.8 trillion real-time transactions over its network, which is supported by more than a dozen data centers. Some think the company could branch out into offering its services across private networks as well. 


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