10 IoT Startups That Landed Funding This Spring

Spring IoT Startups

The Internet of Things is springing into motion as the market continues to mature in 2017. Over the past few months, an array of new startups have announced new rounds of funding.

Startups are popping up across the market with new Internet of Things solutions and services, from new security tool kits for connected industrial control systems, to monitoring products for customers with smart homes.

Here are 10 startups that have secured funding this spring.


French startup Actility announced in April it has raised $75 million in its Series D funding round.

The company, which provides low-power wide area networks (LPWAN) for the Internet of Things, said it intends to use the funds to enhance its IoT solution lineup into new vertical applications – including smart building, energy and utilities, and supply chain. The company's IoT service orchestration platform powers LPWAN rollouts.

The funding round was led by investors like Creadev, Bosch and Inmarsat.


IoT security startup Armis recently secured $17 million in funding that the company hopes will help it build out its channel program around its agentless IoT security platform.

The Palo Alto, Calif.-company, started in 2015, offers an agentless IoT security platform that lets enterprises see and control any device or network. Armis said its platform integrates with existing IT infrastructure and is easy to deploy. Armis, funded by Sequoia Capital, will demonstrate its product publicly for the first time at Gartner Security and Risk Management Summit next week.


IoT startup EVRYTHNG in March announced it has raised $24.8 million in Series B funding, from a round led by Sway Ventures as well as Generation Ventures and Bloc Ventures.

The company touts a platform enabling companies to manage their data and track their connected devices by assigning digital identities to products.

EVRYTHNG has partnered with packaging companies like WestRock and Crown Holdings so that they can track their products through the supply chain and develop IoT applications like smart packaging.


Nevada-based Filament, a wireless industrial network provider, raised $15 million in a new round of funding.

The round, which was led by Verizon Ventures and Bullpen Capital, will allow the company to scale and enhance its platform with pinpoint GPS functionality and build out a wider ecosystem of partners.

Filament enables customers to build a connected business through its distributed software and firmware platform. Customers can use the platform for applications like smart vending and asset tracking.


Industrial Internet of Things startup IoTium, which secures network infrastructure for manufacturing floors, in May announced it has secured $8.4 million in Series A financing.

March Capital Partners and GE Ventures led the investment, and former executive vice president and chief development officer at Cisco Pankaj Patel, OpenSource Ventures and Juniper Networks were investors as well.

Santa Clara, Calif.-based IoTium, founded this year, offers a network-as-a-service that essentially secures the connection of legacy on-site systems to cloud-based applications.


IoT security startup Mocana in May announced it has raised $11 million in additional investment from Sway Ventures, Shasta Ventures, Trident Capital Fund and GE Ventures. The company, which makes IoT security solutions for industrial control systems, said that it will use this funding to advance its IoT security platform in the industrial IoT market, as well as accelerate innovation and drive growth. Mocana's platform provides a full-stack toolset for securing connected systems, from the gateway to the cloud.

"Mocana's IoT Security Platform allows IoT devices of every size to defend themselves from cyber attacks by using military-grade cryptographic software installed on a chip, or flash memory embedded within a device," said William Diotte, CEO of Mocana, in a statement. "We couldn't be more excited about the support we've received from investors and the dedication from our team to bring the next generation of security technology to market, at scale."


Connected home startup Notion offers low-cost, customizable sensors that gives users "home awareness" by enabling them to monitor different functions in their home – including if a room is getting too hot or cold, or if a door has been opened.

The company is going to head to head with more expensive traditional home security systems with its own devices – which start at $129.

Denver-based Notion in June secured $10 million in Series A funding in a round led by Draper Nexus and TransLink Capital, with additional participation from existing investors XL Innovate, Mesh VC and others.


Houston's PAS, a security firm focused on industrial control systems, in April announced it has raised $40 million as the company looks to expand its channel program for operational technology security.

PAS, which provides security for industrial control systems – including distributed control systems, programmable logic controllers, turbo machinery controls, and compressor control systems – wants to broaden its sales approach and involve new system integrators.

PAS received its $40 million growth investment from Tinicum, a private investment partnership focused on late stage investments in manufacturing, energy, technology and infrastructure.


Pepper in March announced it has received a Series B funding round of $8.5 million from an array of investors including Leawood Ventures, the KCRise Fund, and Royal Street Ventures.

The IoT platform provider said that its latest funding round would help support the launch of several IoT products in the future, as well as build out global mass market channels in the coming months.

Pepper has created an IoT operating system and service delivery platform that enables enterprises to launch scalable IoT products and services.

"It's exciting to have an elite team of investors as well as our world-class design partner argodesign on board to help make our vision a reality," said Scott Ford, chief executive officer of Pepper, in a statement.


IoT startup Rigado makes wireless hardware to help IoT manufacturers connect devices more rapidly and for a lower cost. These modules help companies connect devices in the cloud without having to build wireless infrastructure.

The Portland-based company in early June said it has raised $3.3 million in seed funding from Oregon Angel Fund, Rogue Ventures, and other investors.

Rigado said in a release that it will use this funding to grow its global presence in Europe and Asia, as well as expand its IoT connectivity product line with new solutions.