7 Startups for 7 IoT occasions
Decades ago, you could only dream of the possibilities made available today. Interestingly, these possibilities are spreading to a point where there are no more limits to dream. The Internet of Things is at the very heart of this. As you might know already, IoT business offers to professionals and businesses in-depth insights and control over almost everything in multiple environments. So, humans can focus on meaningful, high-value tasks. Today, I would like to show you a little more about this world and its ecosystem. Seven startups aligned with what I highlighted before, revolutionizing the business world by creating profitable econoomic models, attracting customers, and solving enterprises' most challenging obstacles. Here today, we will talk briefly about the top 7 IoT startups considered some of the industry's best representatives.
• Armis Security
Armis Security has attracted customers from various sectors, including healthcare, finance, high-technology, and manufacturing, because of their unique approach to discover and to solve unmanaged threats and IoT devices. This agentless startup solves these challenges by providing visibility to assets and devices, detecting gaps and vulnerabilities, regarding each IoT device as threats, thereby enabling the company to ban entry into devices based on security directions. Armis Security, which was established in 2015, has raised $4.7 million in funding. Based on Crunchbasereports, it is worth $2.1 million in revenue and competes mostly in sales cycles with IoT companies like Digcert and Skybox Security.
Founded in 2013, Dragos is an industrial cloud-based cybersecurity company that provides security solutions to manufacturing firms.
They function by retrieving, identifying, and automating the inventory and visualization of assets. The company also employs security operations, behavior analytics, incidence response, and threat hunting services to detect and report weaknesses, potential attacks, and community events. According to the CrunchBase report, Dragos has one acquisition, NexDefense. It has also raised $48.7 million in funding and has experienced significant headcount growth in the last two years.
Crate.io was established with the intent of providing an open-source SQL database that allows companies to search, store, analyze, and manage machine data, data learning, and AI-based data, all in real-time. The company is unique because it offers the simple scalability and real-time performance of NoSQL through standard SQL. Customers have found Crate.io useful in system monitoring, vehicle fleet tracking, cybersecurity, geospatial, operational analytics workload, and much more.
• Element Analytics
Element Analytics provides a platform that improves an organization's production efficiency and increases its product quantity. To do this, it enriches time series data with an analytical relevant context that improves operational performance. This company has excellent potentials in chemicals and refining, mining, manufacturing, and oil and gas industries.
• Foghorn Analytics
Foghorn founders, like every brilliant innovator, identified a problem in the manufacturing and distribution industry and provided a viable solution. It offers companies a miniature complex-event processing software (CEP) engine that produces data analytics in real-time, not limited by unreliable internet connections. Foghorn Analytics also provides machine learning, data processing, AI, and edge computing solutions. Its new class of high-performance edge computing language (Vel) is cutting edge technology. Vel transposes any PLC, gateway, and other types of edge assets into an advanced programming system.
• Drayson Technology
Drayson Technology IoT based startup was founded in 2007 to solve energy-related problems in industries. It has raised $39.6 million in funding in 4 rounds. This company is a promising venture that uses wireless charging technology, machine learning software, IoT data collection, and analysis to deliver higher power and reduce energy expenditure. It also develops wireless sensor networks, reducing the cost of launching, owning, and managing IoT networks.
This startup is especially important to the manufacturing industry and currently has customers in the retail and energy markets. GEM specifically focuses on using machine learning, IoT platforms, and solutions that provide real-time insights into companies' equipment effectiveness. GEM's services are anchored on Overall Equipment Effectiveness and Predictive Maintenance. At present, GEM is in partnership with technology companies like SAP, Aegis Software, and Intel.
IoT has come to stay, transforming the world radically. Like those listed in this article, most IoT startups have made significant improvements in customer engagements, operations, and revenue generation in several industries. This underpins the need for greater adoption of IoT technologies in every sector of the economy.