It’s good to be an Internet of Things startup these days. Cisco forked over $ 1.4B for IoT platform provider Jasper in February. Nokia Growth Partners has raised a $ 350 million IoT-focused investment fund. And IoT startups are pulling in tens of millions in venture funding.
Verizon, in its new “State of the Market: Internet of Things 2016” report, states that its venture arm estimates that while consumer-oriented IoT firms pulled in 15% more funding than enterprise-focused ones in 2014, it is enterprise IoT startups that are now raking in the big bucks. Verizon Ventures says enterprise IoT startups attracted 75% more funding than consumer IoT upstarts last year and that enterprise IoT startups are expected to grab 2 to 3 times as much funding as their consumer counterparts this year.