Earlier this month we published an article that highlighted the 10 most valuable IoT startups from around the world. We found that 8 of the top 10 are based in California, thus sealing that state’s place as a hub of Internet of Things innovation. Now we turn to an analysis of the 10 IoT startups that raised the most funding in 2014. The findings here aren’t all that different, so it looks like California may be at the centre of IoT innovation for the foreseeable future.
Out of the top 10 IoT startups with the most funding in 2014, 5 are based in California and a further 3 are also based in the United States with 2 in Massachusetts and one in Pennsylvania. The remaining two are the, China based, Shenzhen Fibocom Industrial Development which raised $28 million from Intel and SigFox, based in France, which raised $21 million. In a validation of the startup, the French one has already raised an additional $115 million a couple of weeks ago.
The top 7 IoT startups to make the list are all based in the United States, including 5 in California, but are all led by Massachusetts based SimpliSafe. This is an IoT home security business which raised $57 million in May from Sequoia Capital.
The next 4 IoT startups on the list are all based in California. They include Peel, Jasper, and On-Ramp Wireless, all of whom are considered to be in the top 10 most valuable IoT startups in the world. Peel and Jasper each raised $50 million with the former receiving their investment from Alibaba.
IFTTT (aka If This Then That) is probably the most famous of these top IoT startups that raised the most in 2014. Founded in 2008, the company has established itself as a leader in the Internet of Things space and in 2014 raised $30 million from Norwest Venture Partners and Andreessen Horowitz.
Internet of Things is one of the hottest spaces in tech and in global innovation at the moment. Companies all around the world are keeping a close on it due to the increasing ubiquity of smartphones and the increasing adoption of other smart devices. Whomever best builds the best smart devices and accessories and best manages the communication between them will rule the IoT space. Keep an eye on these startups, they are well placed to lead it.