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5 IoT startups funded to target an $11 trillion industry

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J Labrador 

IoT will have a global economic impact of $11 trillion by 2025 and these startups are only adding to one of tech's greenest pastures.

top 5 IoT startups

As of 2008, there were more objects connected to the internet than people, and this year we will reportedly have 4.9 billion connected things.

More specifically, the global market for wearables has grown 223% this year and McKinsey Global Institute believes that IoT will have a total economic impact of up to $11 trillion by 2025.

It’s small wonder then that month on month, quarter by quarter, IoT startups excite investors with the opportunity to be a part of its future.

The top 5 IoT startups that raised the most investment last August are doing just that.

Sensity Systems was founded in 2010 under its original name, Xeralux Inc, in California, and is a startup capitalizing on the conversion to LED lighting.

Over the next few years 4 billion lights worldwide will make that transition and Sensity Systems want to create a Light Sensory Network, or a high-speed, sensor-based, multiservice, open-source platform, to facilitate that.

It’s $36 million venture puts it first in the top 5 IoT startups for the closing rounds of Summer, good news for its customers which includes Fortune 500 businesses, industrial property owners and transportational authorities.

Behind them on the top 5 IoT startups are Lucid Design Group, which works with behavioral and engagement technologies.

The Group are planning to move to the energy management industry with their operating system for buildings, after their $17 million round in August.

Amphora Medical raised around $12 million for a radio frequency ablation device its developing to treat overactive bladders.

Eight unnamed investors put forward money into the private company that are currently running a safety trial of its device, according to ClinicalTrials.gov.

Fourth, Olio Devices, develops luxury lifestyle products alongside associated software, hardware and a cloud based platform for third-party services.

Lastly, Genymobile raised $8 million from Alven Capital, with Bpifrance also participating.

The company is currently working on three different products that makes using Android easier as an Android developer, IT manager or OEM – essentially becoming an Android platform for the enterprise.-