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The Full List of 18 Internet of Things Unicorn Startups (2026)

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The IoT sector includes 18 unicorn companies connecting physical objects to the digital world. These companies span from consumer health to industrial security.

Finland's Oura, a health tech company, has reached an $11B valuation. Cybersecurity firm Armis is valued at $6B, while Verkada focuses on physical security with a $5B valuation.

Below is the full list of 18 IoT unicorn startups at this time.

Top 10 Most Valuable IoT Unicorns

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Oura designs a smart ring that monitors sleep patterns, body temperature, and daily movement. Their platform analyzes this data to provide users with a daily readiness score, helping them balance activity and rest.

Valuation$11B (Joined April 2022)
HeadquartersOulu, Oulu, Finland
Year Founded2013
FoundersMarkku Koskela, Petteri Lahtela
Funding Amount$1.5B
Company SizeLarge Team (251-1,000)
Last Funding StatusSeries E
Top InvestorsBank of America, Temasek Holdings, Alumni Ventures, Citi, Andreessen Horowitz

Armis builds an agentless cybersecurity platform that gives organizations full visibility of all their connected assets. Their technology is used to manage the entire attack surface, from IT and cloud to IoT devices, and defend against threats in real time.

Valuation$6B
HeadquartersSan Francisco, California, United States
Year Founded2015
FoundersNadir Izrael, Tomer Schwartz, Yevgeny Dibrov
Funding Amount$1.3B
Company SizeLarge Team (251-1,000)
Last Funding StatusVenture Round
Top InvestorsGeneral Catalyst, Georgian, Bain Capital Ventures, Sequoia Capital, Insight Partners

Verkada develops a cloud-based operating system for physical security, protecting people and places. Their integrated platform brings together video cameras, access control, and alarms through a single AI-powered dashboard.

Valuation$5B (Joined January 2020)
HeadquartersSan Mateo, California, United States
Year Founded2016
FoundersBenjamin Bercovitz, Filip Kaliszan, Hans Robertson, James Ren
Funding Amount$644.3M
Company SizeMajor Organization (1,001-5,000)
Last Funding StatusSeries E
Top InvestorsLightspeed Venture Partners, Founder Collective, General Catalyst, Sequoia Capital, Quiet Capital

Wireless Logic provides a global IoT connectivity platform for managing connected devices and assets. They deliver managed services that simplify and automate M2M and IoT deployments for companies around the world.

Valuation$5B
HeadquartersHurley, Warwickshire, United Kingdom
Year Founded2000
FoundersOliver Tucker, Phil Cole
Funding Amount£38M
Company SizeMid-Size Team (51-250)
Last Funding StatusPrivate Equity
Top InvestorsBeyond Net Zero, Montagu, ECI Partners

Terminus Technologies operates a city-level platform in China that combines AI and IoT to create smart city solutions. Their technology helps manage urban environments by integrating robotics, software, and intelligent systems into city infrastructure.

Valuation$3B
HeadquartersBeijing, Beijing, China
Year Founded2015
FoundersVictor Ai
Funding AmountCN¥5.8B
Company SizeLarge Team (251-1,000)
Last Funding StatusCorporate Round
Top InvestorsSenseTime, IDG Capital, JD.com, Iflytek, CPE

Claroty develops cybersecurity solutions to protect the critical infrastructure that powers industrial, healthcare, and commercial sectors. Their platform secures a wide range of cyber-physical systems, including operational technology, IoT devices, and medical equipment, from complex threats.

Valuation$2.5B (Joined June 2021)
HeadquartersNew York, New York, United States
Year Founded2015
FoundersAmir Zilberstein, Benny Porat, Galina Antova
Funding Amount$740M
Company SizeLarge Team (251-1,000)
Last Funding StatusVenture Round
Top InvestorsSiemens, Team8, Temasek Holdings, SE Ventures, Bessemer Venture Partners

Preferred Networks builds practical applications for deep learning, robotics, and other emerging technologies. Their work focuses on solving complex problems in sectors ranging from biotechnology to the Internet of Things.

Valuation$2B (Joined May 2018)
HeadquartersOtemachi, Tokyo, Japan
Year Founded2014
FoundersDaisuke Okanohara, Morikawa Hiroyuki, Nishitoba Jiro, Toru Nishikawa
Funding Amount¥44.6B
Company SizeLarge Team (251-1,000)
Last Funding StatusCorporate Round
Top InvestorsMizuho Bank, MUFG Bank, Toyota Motor, Mitsubishi Corporation, Sumitomo Mitsui Banking Corporation

G7 develops fleet management solutions for China's logistics industry, using an IoT and AI-powered platform. Their technology provides real-time tracking and optimization for a network of more than 800,000 vehicles.

Valuation$2B
HeadquartersHaidian, Beijing, China
Year Founded2010
FoundersHao Shuxia, Wu Haibo, Zhai Xuehun
Funding Amount$710M
Company SizeMajor Organization (1,001-5,000)
Last Funding StatusPrivate Equity
Top InvestorsTrustbridge Partners, Bank of China, Eastern Bell Capital, Temasek Holdings, Tencent

Univers builds a unified platform that combines AI and IoT for monitoring and managing physical assets, energy usage, and carbon emissions. Their system gives enterprises a single interface to track sustainability goals and improve operational performance.

Valuation$1B
HeadquartersSingapore, Central Region, Singapore
Year Founded2017
FoundersLei Speaks
Funding Amount$210M
Company SizeEnterprise Organization (5,001+)
Last Funding StatusVenture Round
Top InvestorsHSG, GIC, KuCoin Ventures

Infobip builds a cloud communications platform for businesses to engage with customers across their preferred channels. They are known for unifying interactions from SMS and chat apps to email and voice into a single, comprehensive solution.

Valuation$1B (Joined July 2020)
HeadquartersLondon, England, United Kingdom
Year Founded2006
FoundersIzabel Jelenic, Silvio Kutic
Funding Amount$1.3B
Company SizeMajor Organization (1,001-5,000)
Last Funding StatusPrivate Equity
Top InvestorsBlackRock, One Equity Partners, Ares Management, Blue Owl

The Remaining 8 Internet of Things Unicorns

The ten most valuable companies are just one part of the industry's bigger picture. Many other founders are building billion-dollar businesses in this space, with a large number of them based in China.

While each company is on its own path, they all have reached an important milestone. Here is a look at the other startups helping to shape the connected devices field.

Unicorn StartupCountryYear FoundedAmount RaisedValuation
Splashtop logo SplashtopUnited States2006$114M$1B
Aqara logo AqaraChina2009$271.8M$1B
Arqiva logo ArqivaUnited Kingdom2005£459.3M$1B
Fenbeitong logo FenbeitongChina2015$291.6M$1B
RootCloud logo RootCloudChina2016CN¥1.3B$1B
COSMOplat logo COSMOplatChina2017CN¥2.2B$1B
Newlink logo NewlinkChina2016$588.6M$1B
Helium logo HeliumUnited States2013$364.8M$1B

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