The pandemic and resulting economic toll has presented challenging headwinds for startups. In this post we look back on Q2 ending funding trends for IoT startups to determine the trajectory of innovation in this emerging technology sector.
Below we see that the number of funding events per quarter has been on a downward trend, with 86 deals closing in Q2. This implies that new innovations in the IoT sector are slowing down as measured by the volume of disruptive companies attracting investments.
As for the average funding per deal, below we can see the trend has been generally flat with an average deal size of $41M in Q2. This implies that the market is somewhat neutral on the traction and growth potential of these IoT startups.