The Internet of Things or IoT is set to be the next revolution in the technology space. IoT is simply about connecting objects via the internet. As simple as it may seem, most believe that this will have a disrupting effect in the world. While the number of IoT startups are about 3000 as per a ReadWrite article, the number as per angel.co stands at about 4500. These numbers alone prove the disruptive potential IoT is believed to have.
With an estimation of IoT market value to reach $9 trillion and with 21 billion devices estimated to be connected by 2020, a large chunk of the market share is likely to be held by startups around the globe. This could also mean that the existing tech monopoly by few players like Facebook, Google, Intel, IBM would see their market share diminish.
IoT’s invasive nature is what makes it disruptive. From agriculture to aerospace, IoT based application has found its way into every conceivable field. Of course, it is simply impossible to list every IoT based startups, hence, following is the list of few startups around the world that are doing something truly unique and innovative:
Founded in 2016, Hiber is a Dutch startup with an ambitious aim to set up a Low Power Global Area Network (LPGAN), LEO satellite constellation, to provide global connectivity to sensors and IoT devices. Hiber’s services include a modem which connects to the devices and transmits data to one of their satellites which in turn delivers it to a ground station to be uploaded to cloud. They have partnered with ESA, TU Delft, Netherlands Space Office and last year it entered in a MoU with Iridium Communications, US-based satellite communications provider.
Hiber has scheduled for a piggyback launch of two Nanosatellites in 2018 with PSLV of Indian Space Research Organization (ISRO) and Falcon series of SpaceX.
Discovery is an Indian startup that seeks to offer a comprehensive communications network for IoT products, through the use of blockchain technology. Looking to address a whopping $1 trillion market, Discovery is ambitious in its scope. The Discovery ecosystem is set to be launched in a phased manner from 2020 through 2022, which comprises of revolutionary self-charging IoT tag and an IoT network powered through a blockless DAG protocol they named as ‘COMPASS’. Discovery being a decentralized but blockless and miner-less platform that allows 1 million transactions per second seems to be a promising competitor to the popular blockchain platforms like IOTA and Ethereum. Besides, for clients, the IoT tag priced at less than $0.10 would enable them to viably implement IoT into their low-value products, and increase revenue return through visibility. However, they also offer a role for the common smartphone users too. As per Discovery, the users can on average earn $200 for every GB they allow to be utilized for the IoT network. Currently, Discovery is prepping up for its investment rounds and ICO sale.
Based in the US, SkyBell offers a smart video doorbell that allows a user to see, hear and speak to visitors regardless of being away from home or not. SkyBell has already partnered with major companies like Honeywell and Amazon.
The doorbell sends live HD feed to the owner’s smartphone through a free app available in iOS and Android devices. Besides hD video, it has other features like a motion sensor, which alerts a user even if somebody does not press the doorbell and night vision, which lets the user see a visitor at night.
Finalist in the 2017 MassChallenge Accelerator, Valerann is an Israeli startup that specializes in enhancing the safety of roads using a smart road system. Valerann utilizes wireless sensors, a communication system in an IoT network to provide drivers and road operators with real-time information of hazards, road traffic, weather and road conditions. Some sensors, as they call smart studs, can be installed on roads that can transmit information to a control center and it can also alert drivers as well. The complete functioning system is expected to be piloted by clients in 2018.
Drayson Technologies is a UK based startup that has set up three business arms. Two of its businesses, Drayson health and Freevolt, utilizes IoT platform to provide healthcare solutions and scalable wireless charging solutions. Freevolt is a patented and patent-pending technology that harvests radio frequency energy of existing wireless and broadcast transmissions to power low energy IoT sensors. Through RF harvesting and Inductive power transfer, Freevolt essentially takes away the need for cables and periodic battery replacement in IoT devices. Whereas, Drayson health has partnered with the University of Oxford and Nhs trust in developing clinical software products. Drayson Technologies has so far received a total investment of more than £40m.
Seebo is an Israeli startup that aims to offer an IoT development platform for the industries. Seebo’s software provides tools for modeling, simulation and behavior analytics along with an IoT marketplace for sourcing resources from service providers. These tools are targeted to help manufacturers with IoT based product development. Behavior analytics component lets the user maximize the product value by giving insight on improvements for the IoT system.
Seebo has several customers including big names like P&G, Stanley, Decathlon. It has received a total funding of $22m with a series A investment in November 2017.
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Author: Yash Mehta