The IoT sector is rapidly growing, with companies creating connected devices for consumer, industrial, and security uses.
This list features heavily funded companies like cybersecurity firm Armis, which has raised $837M, and consumer health tracker Oura, with $598.3M in funding.
Below is our list of 100 Internet of Things startups worth keeping an eye on.
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Get the Sheet for $50Oura designs and develops a smart ring that tracks sleep, activity, and other key health metrics. The wearable provides personalized insights to help users understand their body's readiness and improve their overall well-being.
| Headquarters | Oulu, Oulu, Finland |
| Year Founded | 2013 |
| Founders | Markku Koskela, Petteri Lahtela |
| Funding Amount | $598.3M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Debt Financing |
| Top Investors | Andreessen Horowitz, Temasek Holdings, Citi, Alumni Ventures, Forerunner |
Nozomi Networks offers a cybersecurity platform that protects operational technology, Internet of Things, and cyber‑physical systems. Their technology provides deep network visibility and threat detection, helping industrial enterprises secure critical infrastructure and minimize operational risks.
| Headquarters | San Francisco, California, United States |
| Year Founded | 2013 |
| Founders | Andrea Carcano, Moreno Carullo |
| Funding Amount | $266M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Private Equity |
| Top Investors | CDP Venture Capital, Lux Capital, Partners Group, Schneider Electric, Activate Capital Partners |
Morse Micro builds Wi-Fi HaLow chips, a new wireless standard designed for the unique demands of the Internet of Things. Their silicon provides secure, low-power, and long-range connectivity that extends far beyond the reach of traditional Wi-Fi.
| Headquarters | Surry Hills, New South Wales, Australia |
| Year Founded | 2016 |
| Founders | Andrew Terry, Michael De Nil |
| Funding Amount | $205.8M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Series C |
| Top Investors | Blackbird Ventures, Main Sequence Ventures, Startmate, CSIRO, Clean Energy Finance Corporation |
Claroty builds a cybersecurity platform designed to protect the cyber-physical systems that run the world's critical infrastructure. Their technology offers visibility and protection for industrial, healthcare, and commercial networks against emerging threats.
| Headquarters | New York, New York, United States |
| Year Founded | 2015 |
| Founders | Amir Zilberstein, Benny Porat, Galina Antova |
| Funding Amount | $740M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | Temasek Holdings, Bessemer Venture Partners, Team8, Siemens, Schneider Electric |
Hubble Network created a satellite-based network that gives any standard Bluetooth device a direct connection, regardless of cellular reception. Their system offers global coverage for IoT and other connected hardware, opening up connectivity in the world's most remote locations.
| Headquarters | Las Vegas, Nevada, United States |
| Year Founded | 2021 |
| Founders | Alex Haro, Ben Wild, John Kim, Josh Barnes |
| Funding Amount | $90.5M |
| Startup Size | Lean Team (11-50) |
| Last Funding Status | Series B |
| Top Investors | Y Combinator, Pioneer Fund, Seraphim Space, Yes VC, MassChallenge |
Armis provides a cyber exposure management platform that helps organizations see and secure their entire attack surface. The agentless platform is designed to discover every asset in an environment, from IT and cloud to IoT devices, and protect them from threats in real time.
| Headquarters | San Francisco, California, United States |
| Year Founded | 2015 |
| Founders | Nadir Izrael, Tomer Schwartz, Yevgeny Dibrov |
| Funding Amount | $837M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Secondary Market |
| Top Investors | General Catalyst, Insight Partners, Sequoia Capital, Bain Capital Ventures, Brookfield Asset Management |
DroneDeploy builds a reality capture platform that helps industries like construction, energy, and agriculture digitize their job sites. Their software uses AI to process data from drones and ground robots, creating interactive maps and 3D models for analysis and progress tracking.
| Headquarters | San Francisco, California, United States |
| Year Founded | 2013 |
| Founders | Jono Millin, Michael Winn, Nicholas Pilkington |
| Funding Amount | $157.6M |
| Startup Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | Bessemer Venture Partners, Emergence Capital, Uncork Capital, Airtree Ventures, Redpoint |
Skylo operates a global service that connects smartphones and IoT devices directly to satellites. Their non-terrestrial network provides reliable connectivity for users and machines in areas without traditional cellular coverage.
| Headquarters | Mountain View, California, United States |
| Year Founded | 2017 |
| Founders | Andrew Kalman, Andrew Nuttall, Parthsarathi Trivedi, Tarun Gupta |
| Funding Amount | $183M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Venture Round |
| Top Investors | NGP Capital, The Westly Group, Intel Capital, SoftBank, Seraphim Space |
Sight Machine builds a data platform that helps manufacturers analyze and improve their operations using AI. Their technology transforms complex factory data into insights for enhancing quality and productivity.
| Headquarters | San Francisco, California, United States |
| Year Founded | 2012 |
| Founders | Adam Taisch, Anthony Oliver, Jon Sobel, Kurt DeMaagd, Nathan Oostendorp |
| Funding Amount | $80.4M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Venture Round |
| Top Investors | Momenta, NVentures, E.ON, Mercury, FundersClub |
Span develops smart home electrical panels designed to help homeowners transition to clean energy. Their products offer advanced controls for home energy use, integrating seamlessly with solar power, battery storage, and electric vehicle charging.
| Headquarters | San Francisco, California, United States |
| Year Founded | 2018 |
| Founders | Arch Rao |
| Funding Amount | $229.8M |
| Startup Size | Mid-Size Team (51-250) |
| Last Funding Status | Series B |
| Top Investors | Wellington Management, Elemental Impact, Amazon Alexa Fund, Fifth Wall, HCVC |
90 Additional Internet of Things Startups Worth Following
Those top ten companies are just the tip of the iceberg. Founders are busy building in fields like AI, hardware, and security, and together they've raised billions of dollars.
Some of these startups are brand new, while others are already scaling up fast. Here’s a look at the rest of the companies shaping this exciting field.