The industrial IoT (IIoT) accounted for more than one-third of all IoT investment last quarter. But while the Industrial side of IoT is taking an increasing share of funding, the startup ecosystem in this category is still a nascent one. More than half of all deals in the past 5 quarters were seed or Series A stages.
Interestingly, 4 out of the 5 most active investors in Industrial IoT were industrial tech giants’ corporate venture arms. With their core businesses relying on digitizing industrial processes, investing in IIoT startups obviously offers them immense strategic value.