Top IoT Startups of July 2023

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The Internet of Things (IoT) has emerged as a transformative force, connecting various devices and enabling them to communicate, collect data, and operate intelligently.

IoT startups are at the forefront of this technological revolution, introducing innovative solutions that streamline processes, enhance efficiency, and create new possibilities across industries.

In this article, we will delve into some of the best IoT startups that are driving advancements in the IoT landscape and redefining the way we interact with smart devices.

Also, check out our list of the top startups of 2023.

Top IoT Startups of July 2023


Armis logo






Armis is a startup company located in San Francisco, California, USA. The company was founded in 2015. As of the last funding round in January 2020, Armis Security raised a significant amount totaling over $540 million.

Armis is the leading asset visibility and security company — providing the industry’s first unified asset intelligence platform designed to address the new extended attack surface that connected assets create. Fortune 100 companies trust Armis’ real-time and continuous protection to see with full context all managed, unmanaged assets across IT, cloud, IoT devices, medical devices (IoMT), operational technology (OT), industrial control systems (ICS), and 5G. Armis provides passive cyber asset management, risk management, and automated enforcement.

Smarten Spaces

Smarten SPaces

Smarten Spaces is a startup company located in Singapore. It was founded in the year 2017. The company has raised a formidable total of $12 million up to date.

As a company, Smarten Spaces focuses on offering a cutting-edge end-to-end solution for workspace and building management by leveraging Artificial Intelligence and Internet of Things (IoT). The company’s Life Is Suite platform digitalizes spaces for use in industries like real estate and hospitality. Their technology aims to enable workspaces to operate more efficiently, improve user experience, and automate everyday tasks, essentially revolutionizing the way people interact with their work environments.

No Traffic


No Traffic is an innovative startup based in Palo Alto, California, United States. The company was founded in the year 2016. The startup has been successful in raising a significant amount of money, specifically $3.2 million, to support its operations and development.

No Traffic is a company working toward redefining the field of traffic management. The company utilizes AI and cutting-edge technologies to transform traffic signal management systems. Its platform allows cities to communicate with their entire traffic infrastructure, enabling real-time cooperative traffic decisions, reducing congestion and increasing road safety. By encouraging smarter and efficient urban traffic management, No Traffic aims to make transportation faster and more eco-friendly.

Eight Sleep

Eight Sleep

Eight Sleep is a revolutionary sleep fitness company located in New York City, United States. The company was founded in the year 2014 by Matteo Franceschetti, Massimo Andreasi Bassi, and Andrea Ballarini.

As of public records until now, the company has raised an impressive total of roughly approximately $70 million in funding. This strong financial backing clearly reflects the confidence of investors in the company’s potential for growth.

Eight Sleep is dedicated to leveraging technology for enhancing the sleep experience. They have devised a specialized ‘smart’ mattress equipped with sensors to monitor various factors like body temperature, breathing rate, heart rate, and sleep phases, which affect the quality of sleep.

Eight Sleep’s products incorporate automated temperature adjustments and can provide sleep tracking and analytics which are valuable for understanding and improving sleep patterns. With its innovative use of technology, the company is helping to drive the sleep industry towards more personalized and health-optimized solutions.



Sigfox is a French global communications service provider that was founded in 2010. The company is headquartered in Labege, France, near Toulouse. Sigfox has raised approximately $317.6 million in funding according to Crunchbase.

Sigfox specializes in building wireless networks to connect low-power objects such as electricity meters and smartwatches. Their technology is unique as it focuses on small messages that require less energy than competing cellular technologies, making it an ideal system for the rapidly growing Internet of Things (IoT) market. Their low-cost, low-power consumption network reaches over 60 countries, offering device-to-cloud communications solutions to a multitude of industries.



ThingSpeak is a tech startup based in Natick, Massachusetts, United States and the company came into existence in 2010.

The startup is an open-source Internet of Things (IoT) application and API that provides the functionalities of real-time and historical data collection, visualizations, and analytics. It allows users to create sensor logging applications, location tracking applications, and a social network of things with status updates, which makes it a leading player in the fast-growing IoT industry. It allows devices to interact with “ThingHTTP,” “TweetControl,” and “ThingTweet” apps.



Kloudless is a tech startup located in Berkeley, California, United States. The company was founded in the year 2011. Speaking about funding, Kloudless has reportedly raised a total of approximately $6 million over multiple rounds of funding.

Now, to describe the company: Kloudless provides a unified API platform which allows businesses to connect their products to multiple software services. The main aim is to help developers integrate their applications with various cloud storage services quicker and more efficiently. This eliminates the need for developing separate integrations for each service and accelerates the product development process, while providing a streamlined experience for the end-users.

Frequently Asked Questions

Q. What are IoT startups?

IoT startups are companies that specialize in developing and implementing Internet of Things technologies, leveraging interconnected devices to create intelligent systems and solutions.

Q. How do IoT startups utilize IoT technology?

IoT startups leverage a combination of sensors, connectivity, data analytics, cloud computing, and machine learning to enable devices to communicate, collect data, and perform tasks autonomously.

Q. Which industries do IoT startups cater to?

IoT startups cater to a wide range of industries, including healthcare, agriculture, manufacturing, transportation, energy, smart cities, and consumer electronics. Their applications span from smart home devices to industrial automation.

Q. What makes the best IoT startups stand out?

The best IoT startups stand out through their innovative and scalable solutions, seamless integration of IoT technologies, and the ability to address real-world challenges effectively.

5. What are some examples of successful IoT startups?

Several IoT startups have gained prominence for their pioneering work in the IoT domain. Companies like Wyze, Particle, Tuya, and Soracom have made significant contributions to the IoT ecosystem.

Q. How do IoT startups ensure security in IoT devices?

Security is a top priority for IoT startups. They implement robust encryption, authentication mechanisms, and regularly update firmware to protect IoT devices from potential cyber threats.

Q. Can IoT startups collaborate with established businesses?

Yes, IoT startups often collaborate with established businesses to integrate their IoT solutions into existing operations, provide IoT consultancy services, or develop custom IoT products tailored to specific industry needs.

Q. How do IoT startups contribute to sustainability and environmental efforts?

IoT startups play a crucial role in sustainability efforts by optimizing resource usage, improving energy efficiency, and enabling smart solutions for waste management, agriculture, and environmental monitoring.

Q. What challenges do IoT startups face?

IoT startups face challenges such as interoperability issues, data privacy concerns, standardization hurdles, and the need for skilled talent to develop and maintain IoT systems.

Q. What does the future hold for IoT startups?

The future of IoT startups is promising, as IoT technology continues to evolve and its adoption grows across industries. IoT startups will continue to drive innovation and shape the landscape of interconnected smart devices, paving the way for a more connected and efficient world.

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