We’ve previously highlighted that internet of things (IoT) funding saw growth in recent years. This blog post will take a closer look at the trends within the individual IoT categories. From our analysis, we notice that the IoT Fitness category leads in both Q3 and overall funding. We’ll discuss this with some charts below.
To start off, let’s review the amount of funding raised this quarter per category within IoT.
The above graphic highlights that the IoT Fitness category leads the sector in Q3 funding with $1B. IoT Lifestyle category follows in second place with $0.8B in Q3 funding.
IoT Fitness companies create connected devices that track fitness and exercise metrics. Such devices include healthy eating trackers, exercise tracking wristbands, and smartphone-controlled shoes. Some example companies in this category include Moov, Sensoria, Striiv, and Atlas Wearables.
Let’s now investigate how the IoT categories’ funding compare with each other historically.
The graph below shows the all-time funding for the various IoT categories. The Q3 funding and growth rates of these categories are also highlighted.
As the bar graph indicates, the IoT Fitness category also leads in total funding at $7.6B. IoT Software Platforms and IoT Drones follow in second and third places with $7.4B and $7.3B in total funding, respectively.
In summary, IoT Fitness category leads the IoT sector in funding. Let’s see how the the rest of 2018 shapes up for the internet of things!