16 Top IoT Startups to Watch in 2024

Every year, new startups pull to the forefront of their industry through exciting innovation, tech, and industry-disrupting business models. We’ve rounded up the top IoT startups of 2024 that startup-lovers, investors, and aspiring entrepreneurs should follow.

Disclaimer: With so many exciting startups launching and growing worldwide, we aren’t able to cover them all. Furthermore, the startups that are listed below are not officially ranked and are listed in no particular order.

• Location: Nashua, New Hampshire
• Founder(s): Greg McHale, John Joseph
• Founded In: 2017
• Funding: Series B, $21 Million
• Investors Include: York IE, Joint Effects, MK Capital

Datanomix is a manufacturing analytics platform that provides valuable insights from data collected during the manufacturing process to streamline operations and improve businesses overall. By offering actionable data to customers, business owners are better able to create sellable products, reduce spending, and predict required maintenance.

• Location: Berlin, Germany
• Founder(s): Alexander Schebler, Frank Stoecker, Martin Giess
• Founded In: 2014
• Funding: Series B, $79.9 Million
• Investors Include: One Peak

EMnify is a CPaaS (cloud platform as a service) startup that helps IoT businesses to expand their businesses globally. Unlike most CPaaS companies, EMnify is focused solely on IoT companies.

• Location: Haryana, India
• Founder(s): Akash Gupta, Rashi Agarwal, Tushar Mehta
• Founded In: 2017
• Funding: Series B, $75.6 Million
• Investors Include: We Founder Circle, Goodyear Ventures, Venture Catalysts

Zypp is an electric scooter sharing and rental platform that uses an app to help commuters find rentable scooters in their area. Not only does this concept contribute to a greener environment, but it also helps solve mobility problems in crowded cities.

• Location: Singapore
• Founder(s): Anushka Verghese, Dinesh Malkani, Prithvi Shergill
• Founded In: 2017
• Funding: Series A, $12 Million
• Investors Include: Symphony Asia Holdings 

Smarten Spaces is a building management system that leverages the power of both AI and IoT to create sustainable, streamlined spaces. Through their platform, users can enhance the energy performance of their buildings and reduce costs while improving productivity.

• Location: San Francisco, California 
• Founder(s): Zach Supalla, Zachary Crockett
• Founded In: 2012
• Funding: Series C, $105.8 Million 
• Investors Include: Qualcomm Ventures, Alumni Ventures, Root Ventures 

Particle is an IoT device platform that empowers businesses to seamlessly integrate connectivity into their products, providing a comprehensive suite of hardware, software, and cloud-based tools for rapid prototyping and scalable deployment. With a global presence in over 170 countries, Particle has gained the trust of more than 150,000 product builders, including notable Fortune 500 companies and innovative organizations such as NASA, SpaceX, Jacuzzi, and Keurig. 

• Location: Atlanta, Georgia
• Founder(s): Gabriel Lameirinhas, Igor Marinelli, Leonardo Vieira
• Founded In: 2019
• Funding: Series B, $73.3 Million 
• Investors Include: General Catalyst, Next47, Monashees 

TRACTIAN is an industrial IoT startup that offers an intelligent platform for real-time monitoring and predictive maintenance of industrial assets. Their solution utilizes sensors and AI to collect and analyze data from machinery, enabling companies to optimize equipment performance, reduce downtime, and improve operational efficiency.  

• Location: Manno, Switzerland 
• Founder(s): Andrea Moroni Stampa, Martino Poretti, Matteo Vanotti, Salvatore Ferullo
• Founded In: 2017 
• Funding: Series B, $21.7 Million
• Investors Include: Swisscom Ventures, Grey Silo Ventures, United Ventures

xFarm is an agricultural IoT startup that aims to digitize farming across the world and help agriculture businesses keep up with increasing legal requirements and certifications. Additionally, farmers and stakeholders can utilize analytics provided by the platform to make effective and educated decisions about crops, certifications, and more.

• Location: Seattle, Washington
• Founder(s): Brian Parsonnet, Dr. Steve Sliwa
• Founded In: 2012
• Funding: Series C, $148 Million
• Investors Include: Chevron Technology Ventures, Insight Partners, Second Avenue Partners 

Seeq provides fast, easily derived business insights from industrial data and analytics. By transforming data gathered from the industrial process, businesses can make educated decisions, increase revenue, and build better products.

• Location: San Francisco, California
• Founder(s): John Bicket, Sanjit Biswas
• Founded In: 2015
• Funding: Initial Public Offering (IPo), $1.23 Billion
• Investors Include: Andreessen Horowtiz, Raison Asset Management, Dragoneer Investment Group 

Samsara is one of the first Connected Operations Cloud companies, utilizing the power of IoT data to provide businesses with actionable insights to help streamline operations and empower business owners.

• Location: Lisbon, Portugal
• Founder(s): Felipe Ávila da Costa, Luís Martins
• Founded In: 2015 
• Funding: Series A, $24.4 Million
• Investors Include: 500 Global, Knight Capital, Bright Pixel Capital 

Infraspeak is an IoT startup that is working to streamline and optimize the facilities management industry by providing an intelligent, maintenance-management platform. Through the platform, users can develop solutions for their teams that will result in better services rendered and a more streamlined approach to business operations.

• Location: Silicon Valley (Redwood City, California) 
• Founder(s): Bill Kee, Matthew Knoll, Paul Roland Lambert
• Founded In: 2022
• Funding: Series A, $42 Million 
• Investors Include: Energy Impact Ventures, Gradient Ventures, Galvanize Climate Solutions 

Quilt is a smart home climate solution company that focuses on developing cutting-edge temperature control technology to enhance energy efficiency in residential spaces. By leveraging AI-driven systems that seamlessly integrate into any home environment, Quilt offers users the ability to control temperatures on a room-by-room basis, utilizing occupancy awareness and predictive technology to optimize energy consumption while maintaining a comfortable living space. 

• Location: Chicago, Illinois
• Founder(s): Andrew Gostine, Garrett Larance, Tim Koby
• Founded In: 2015
• Funding: Series B, $57 Million 
• Investors Include: NVIDIA, GFT Ventures, JCI Ventures 

Artisight is a healthcare-focused IoT sensor network that aims to optimize organizational operations and financial performance within the healthcare industry. By offering a Health Insurance Portability and Accountability Act (HIPAA)-compliant platform that leverages AI to analyze data and generate novel, previously inaccessible data sets, Artisight enables healthcare providers to gain valuable insights while ensuring the privacy of patients and healthcare professionals.

• Location: Boston, Massachusetts
• Founder(s): Krenar Komoni
• Founded In: 2015
• Funding: Non-Equity Financing, $81.9 Million 
• Investors Include: Plug and Play, Broom Ventures, Supply Chain Ventures 

Tive empowers companies to achieve true end-to-end visibility in their supply chains, eliminating surprises and enabling them to manage their operations more effectively. By offering an end-to-end sensor solution, Tive provides businesses with unparalleled insights and enhanced visibility that allows them to visualize, optimize, and monitor their supply chain operations in real time. With Tive's innovative technology, companies can improve efficiency, meet regulatory requirements, and, ultimately, achieve better results in their supply chain management processes.

• Location: Columbus, Ohio 
• Founder(s): David Harvilicz, Matt Wyckhouse
• Founded In: 2017
• Funding: Series B, $69.5 Million 
• Investors Include: SE Ventures, Energy Impact Partners, Merlin Ventures

Finite State is a cybersecurity company that focuses on protecting IoT and connected devices from vulnerabilities and threats. By providing a comprehensive platform that combines automated firmware analysis, risk assessment, and real-time monitoring, Finite State enables organizations to identify and mitigate security risks associated with their IoT devices throughout the product life cycle.

• Location: Gurgaon, India
• Founder(s): Anubhav Bhambri, Bharath Kumar, Gagandeep Sheokand, Jharna Saha
• Founded: 2017
• Funding: Seed, $126,100
• Investors Include: Padup Ventures, Elina Investments 

EpVi is an innovative energy management company with a mission to help users use electricity wisely and reduce waste. The company has developed a cutting-edge IoT device and a supporting app that enables users to monitor their real-time electricity consumption, detect wastage-causing issues with an impressive accuracy of 98.79%, and automatically manage electricity usage to reduce bills. The system also protects the premises from short circuits and voltage fluctuations, providing an added layer of safety. 

• Location: Chicago, Illinois 
• Founder(s): Ben Forgan, Pat Wilbur
• Founded In: 2014
• Funding: Series B, $82.4 Million 
• Investors Include: TechNexus Venture Collaborative, Bullpen Capital, NextView Ventures 

Hologram is a cellular platform designed specifically for the IoT, enabling thousands of connectivity teams to keep their devices connected seamlessly across the globe. The platform was born out of the need to address the connectivity challenges faced by food delivery startups in Singapore with the cofounders dedicating their efforts to removing the barriers that prevented fast-growing IoT teams from deploying cellular-equipped fleets worldwide. 

Recommended: Check out our full list of the top startups to watch in 2024!