With the development of IoT, there are a lot of devices that can connect to a global network creating new capabilities for many industrial fields. So, IoT opens up new perspectives. Heavy industries like manufacturing, agriculture, logistics, and mining industry also started to use IoT systems for efficiency and results improvement. Potential benefits from Industrial Internet of Things (IIoT) with the use of machines and sensors that gather data on each stage of manufacturing are huge.
The number of devices connected wirelessly is growing rapidly and the world market of IoT will show more and more interesting products and features. Considering all available industrial IoT startups, we chose the most interesting and popular ones to inspire you for the development of new business ideas and solutions.
Let’s explore vehicles fleet and warehouse industries first. Speaking about vehicles fleet, Internet of Things can be used for the creation of a single network, management optimization, and required analytical data collection. Such companies like Veniam focus on the connection aspect, others like Vnomics are responsible for optimization and technology of vehicles monitoring.
Robotic transport and a network of RFID sensors. Robotic transport can transport materials and equipment inside the warehouse, RFID tags technology can be used for the supply chain. Let’s study these startups in a more detail.
The company is building and managing urban transport networks that expand wireless network coverage area and gather terabytes of data related to the city. In controlled areas Veniam ensures that all cars will be connected safely regardless of where they are and at what speed they move.
Total funding: USD 26,9 million
The technological platform of the company is the smart software for telematics that is developed especially for commercial cargo transportation industry. Since drivers, trucks, cargoes, and routes are different, a software solution controls actual fuel consumption by each car in a real-time mode and compares it to a maximum fuel efficiency (MPG potential) for this car with its current loading and operating conditions. Thus, Vnomics assists managers a lot.
Total funding: USD 3,8 million
#3 Alien Technology
Alien Technology is a leading manufacturer of technologies and products for radio frequency identification (RFID) of integrated circuits, tags, readers and professional services. Alien Gen 2 products together with software solutions help solve business challenges of manufacturing growth, security issues and monitoring of products for closed systems and supply chain systems. These solutions are implemented in such fields as products packaging, clothing retail, manufacturing etc.
Total funding: USD 338,9 million
#4 Fetch Robotics
Fetch Robotics is a company that offers its advanced ROS-based robots (Robot Operating System – open-source OS for robots programming) for optimization of daily warehouse operations. The solution will focus on logistics and light industry. Fetch Robotics offers equipment for optimization of routine warehouse tasks like goods transportation and accounting.
Total funding: USD 23 million.
In this category, companies are divided into those that automate processes using robots and those that collect and analyze data like farming data and tractors telematics for manufacturing efficiency improvement. Let’s consider the most interesting solutions.
#5 Blue River Technology
Blue River Technology creates a new generation of the smart agricultural equipment. The company uses not only Internet of Things but also elements of robotics, computer vision and machine learning for the improvement of farming management. Blue River Technology allows managers to take into account the demands of each plant and react immediately by reducing the use of chemical and nutrition, for example.
Total funding: USD 30,8 million
Total funding: not disclosed
FarmBot is an open-source agricultural software package developed for a small-scale production of foodstuff. The project is aimed at the development of the open and available technology that helps business owners modify and enhance hardware, software and user documentation. Using the web app, users can design their farm or garden graphically according to the chosen specification and sync the control code with hardware.
#7 Farmers Edge
Total funding: USD 55,8 million
Due to the use of remote satellite images and technologies, the project is enhancing steadiness of the harvest profitability by the means of data management, results measurement, and risk minimization. Farmers Edge provides specialists with tools that make it possible to identify, match and manage changes on agricultural lands.
Using aerial photography and data analysis, farmers can increase the profit of their agricultural business. TerrAvion provides farmers with data regarding the condition of their lands, and it helps reveal problems before they have an impact on harvest.
Total funding: USD 10 million
Startups for factories
Companies in this category are more oriented towards platforms for manufacturing analytics. For example, one of the most vivid representatives, Eigen Innovations, uses video and sensors data on factory premises for quality and process control assurance.
#9 Eigen Innovations
Total funding: USD 1,4 million
Eigen Innovations creates software solutions for the industrial Internet of Things. The company has created a software algorithm that uses information read from industrial equipment. On the basis of algorithm optimization capability, it can provide control over key manufacturing processes. Therefore, you get more efficient manufacturing operations: improved performance, higher quality and lower costs.
Startups for smart power supply networks
Startups in these fields are focusing on the development of technologies that make it possible to distribute electricity, gas, and water efficiently. Trilliant, Tendril, and Blue Pillar are smart solutions that allow huge companies to control electricity, gas, water, and accounting.
Total funding: USD 146 million
Trilliant is providing basic network infrastructure – software, hardware and maintenance of electrical systems that increase system-wide energy efficiency and reliability of the system. Trilliant develops and integrates advanced metering infrastructure (AMI), responding to requests and methods of network management. In general, the solution is created to manage and improve consumption efficiency and power supply networks management.
Total funding: USD 168,2 millionTendril offers complex products, apps, and services for users created on the basis of open, safe and scalable Tendril Connect platform. Due to easily integrated solutions like Demand Response and Energy Efficiency, Tendril offers the energy solutions that make it possible for suppliers of electrical services see a general picture of users’ needs, minimize operating costs and make a balance of other indicators.
#12 Blue Pillar
Total funding: USD 32 million
Blue Pillar is software for the control of distributed energy networks that make it possible to combine and control numerous enterprises in such areas as healthcare, manufacturing, telecommunication, data processing center, higher educational institutions etc. with the help of Internet of Things and micro-sensors. Blue Pillar apps reduce electricity costs of any enterprise and increase security, compliance with critical energy indicators as well as allow to see the demand of resources consumption.
So, we’ve listed the largest industrial startups that use IoT. Some companies create not only software but also hardware and use robots for optimization of some operations. In general, the use of Internet of Things really allows to save, optimize and improve the performance of enterprises.