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  • 30/05/2019 Top 25 IoT Startups To Watch In 2019

    https://www.forbes.com/sites/louiscolumbus/2019/02/03/top-25-iot-startups-to-watch-in-2019/?mc_cid=2099a3f10c&mc_eid=7b22571688#529c3… 1/13

    38,917 views | Feb 3, 2019, 01:20pm

    Top 25 IoT Startups To Watch In

    2019

    Enterprise & Cloud

    Louis Columbus Contributor

    26,792 startups are relying on IoT as one of their main technologies to

    launch new products and services and support platform-based business

    models according to Crunchbase.

    78.4% of IoT startups Crunchbase tracks have had two funding rounds or

    less with seed, angel and early-stage rounds being the most common.

    IoT startup funding reached $16.7B in Q4, 2018, with last years’ funding

    levels 94% over 2017 according to Venture Scanner.

    By 2020, 50% of IoT spending will be driven by discrete manufacturing,

    transportation and logistics, and utilities according to the Boston

    Consulting Group.

    The most successful IoT startups selling into enterprises excel at orchestrating

    analytics, Artificial Intelligence (AI), and real-time monitoring to deliver

    exceptional customer experiences. As a group, these top 25 IoT startups are

    ISTOCK

    https://www.forbes.com/sites/louiscolumbus/ https://www.forbes.com/enterprise-cloud https://www.forbes.com/sites/louiscolumbus/ https://www.venturescanner.com/ https://www.bcg.com/publications/2017/hardware-software-energy-environment-winning-in-iot-all-about-winning-processes.aspx https://blogs-images.forbes.com/louiscolumbus/files/2019/02/Top-and-Hottest-25-IoT-Startups-to-Watch-In-2019-Final.jpg

  • 30/05/2019 Top 25 IoT Startups To Watch In 2019

    https://www.forbes.com/sites/louiscolumbus/2019/02/03/top-25-iot-startups-to-watch-in-2019/?mc_cid=2099a3f10c&mc_eid=7b22571688#529c3… 2/13

    showing early potential at enabling profitable new business models, revitalizing

    industries that have experienced single single-digit growth recently. Each of these

    startups is taking a unique approach to solving some of the enterprises’ most

    challenging problems, and in so doing creating valuable new patents that further

    fuel IoT adoption and growth.

    The top 25 startups are concentrating on how to make IoT a growth catalyst for

    enterprises by designing in AI integration at the platform level. McKinsey found

    that 27% of AI early adopters are more likely to report using AI to grow their

    market than companies only experimenting with or partially adopting AI. 52% are

    more likely to report using it to increase their market share. These and many

    other survey results are from McKinsey Global Institute’s Artificial Intelligence:

    The Next Digital Frontier? (PDF, 80 pp., no opt-in).

    Top 25 IoT Startups To Watch In 2019

    The following list of 25 IoT startups are based on an analysis of their ability to

    attract new customers, current and projected revenue growth, patents’ current

    value and potential, and position in their chosen markets. Presented below are

    top 25 IoT startups to watch this year:

    1. Armis Security – Armis takes a unique approach to provide visibility

    into IoT-enabled devices that are unmanaged across an IT network. The

    company’s solutions treat every IoT device as a threat surface, enabling

    enterprises to prohibit access to IoT devices and networks based on

    security guidelines. Another unique aspect of this company’s approach to

    deployment is the ability to use an enterprises’ existing infrastructure for

    rapid deployments. Founded in 2015 the company has active customers in

    finance, healthcare, manufacturing, and high technology industries. Armis

    Security has raised a total of $47M in funding over 3 Their latest funding

    was raised on Apr 9, 2018, from a Series B round of $30M from Bain

    Capital Ventures and Red Dot Capital Partners. Crunchbase reports Armis

    Security has $2.1M in revenue annually and competes with DigiCert,

    Skybox Security, and Aruba Networks most often in sales cycles.

    2. Crate.io – Crate.io’s open source SQL database features integrated search

    for storing and analyzing machine data in real time. The company was

    founded in 2013 with the purpose of providing SQL developers with an

    open source SQL database to capture, analyze and manage their machine

    https://www.mckinsey.com/~/media/McKinsey/Industries/Advanced%20Electronics/Our%20Insights/How%20artificial%20intelligence%20can%20deliver%20real%20value%20to%20companies/MGI-Artificial-Intelligence-Discussion-paper.ashx https://armis.com/ https://crate.io/ https://crate.io/

  • 30/05/2019 Top 25 IoT Startups To Watch In 2019

    https://www.forbes.com/sites/louiscolumbus/2019/02/03/top-25-iot-startups-to-watch-in-2019/?mc_cid=2099a3f10c&mc_eid=7b22571688#529c3… 3/13

    learning and AI-based data. CrateDB is an open source distributed

    database offering the scalability and performance of NoSQL with the

    power and ease of standard SQL. The CrateDB Cloud for Azure IoT is a

    turnkey data layer, offered as a hosted cloud service on Azure, enabling

    faster development of IoT platforms and data-driven smart factories. Most

    CrateDB customers use it for operational analytics workloads, performing

    fast time series, geospatial, text search, machine learning queries against

    streams of data and data at rest in Industrial IoT, enterprise cybersecurity

    & systems monitoring in all industries, smart city and building

    infrastructure, Vehicle fleet tracking & management and marketing

    analytics. The company has raised $17.9M in funding over 4 rounds.

    3. Dragos – Dragos specializes in industrial (ICS/IIoT) cybersecurity. Their

    cloud-based Dragos Platform collects, detects, and automates asset

    inventorying and visualization, threat detection through threat behavior

    analytics, and security operations and incident response workflows.

    Dragos also has a Threat Operations Center that provides customers access

    to dedicated ICS incident response and threat hunting services as well as

    industrial specific intelligence reporting on vulnerabilities, threats, and

    community events. Dragos has raised a total of $48.2M in funding over 3

    Their latest funding was raised on Nov 14, 2018, from a $37M Series B

    round with Canaan Partners.

    4. Drayson Technologies – Drayson Technologies provides an IoT

    platform startup that is combining wireless charging technology and

    machine learning software to create smart sensor networks that deliver

    greater energy and cost efficiencies to its customers. Drayson is known for

    its expertise in energy-efficient and cost-effective IoT data collection and

    analysis, which also contributes to their customers’ ability to reduce the

    cost of deploying, owning and running IoT networks.

    5. Element Analytics –Element Analytics is rapidly establishing itself as a

    startup to watch in the fields of chemicals & refining, manufacturing,

    metals & mining, pulp & paper, and upstream oil & gas. Their Element

    Platform helps industrial organizations easily and rapidly use industrial

    time-series data to improve production efficiency and product quality.

    Their platform prepares time-series data, enriches it with analytically

    relevant context, creating greater contextual insights. The Element

    Analytics platform also enables machine-learning modeling to surface

    reliability, productivity, and sustainability insights for operations. Element

    https://dragos.com/ https://www.draysontechnologies.com/ https://www.elementanalytics.com/

  • 30/05/2019 Top 25 IoT Startups To Watch In 2019

    https://www.forbes.com/sites/louiscolumbus/2019/02/03/top-25-iot-startups-to-watch-in-2019/?mc_cid=2099a3f10c&mc_eid=7b22571688#529c3… 4/13

    Analytics has raised a total of $22M in funding over 3 Their latest funding

    was raised on Jan 8, 2018, from a Series A round. Kleiner Perkins

    participated in the first two rounds, funding a total of $7M.

    6. FogHorn – FogHorn is a fascinating startup to watch because they excel

    at embedding real-time analytics and machine-learning support into size-

    and space- constrained commercial and industry IoT application areas.

    Realizing that industrial manufacturing and distribution sites often have

    unreliable Internet connections if they have any at all, Foghorn has

    designed a miniaturized, scalable complex-event processing (CEP)

    software engine that is capable of producing analytics in real-time. The

    FogHorn Lightning™ platform includes the CEP software engine, enabling

    high-performance edge computing, advanced analytics, Machine Learning,

    and AI to be implemented highly constrained environments of IIoT. The

    company has also created a new class of high-performance programming

    language called Vel ™ which transforms any gateway, programmable logic

    controller (PLC), industrial PC, or another edge device into an advanced

    edge computing system. FogHorn has raised a total of $47.5M in funding

    over 4 Their latest funding was raised on Oct 4, 2017, from a Series B

    round. The FogHorn Technology Platform is shown below:

    HTTPS://WWW.FOGHORN.IO/

    https://www.foghorn.io/ https://blogs-images.forbes.com/lou