A growing slice of deals to Internet of Things startups are going to applications relevant to asset-heavy industries, including manufacturing, logistics, mining, oil, utilities and agriculture.
We used CB Insights data to compare quarterly financing to the IoT and industrial IoT (IIoT), in order to visualize the industrial share of overall IoT funding,
IIoT companies have taken an increasingly larger piece of the overall IoT pie. In 2011, IIoT accounted for 17% of all funding dollars. Fast-forward to 2015, and IIoT accounted for 40% of investment in the year.
Most recently, Q1’16 saw more than one-third of IoT funding going to industrial-focused startups.