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VC funding for IoT fades in H1
VC funding for the Internet of Things (IoT) market cooled in the first half of 2022 amid challenging economic conditions. The sector’s reliance on global supply chains and cyclical industries such as manufacturing may leave it relatively more vulnerable to economic uncertainty, but the shift to connected cars continues to drive investment in the space.
Our latest Emerging Tech Research update quantifies VC trends in the IoT vertical and highlights emerging opportunities in connectivity management, software-defined vehicles and wireless power. The report also includes a market map of the industry’s subsegments, from smart homes to healthcare and IoT security, and takes a closer look at companies such as Ambiq and Uptake.
Other takeaways include:
- Global IoT startups brought in $2.8 billion in venture funding in Q2—a more than 57% decline from the record first quarter and the lowest deal value since Q4 2019.
- Disclosed VC exit values have all but evaporated, with only $119.2 million recorded in Q2.
- The IPO pipeline for IoT security specialists may not open until 2023, and the category continues to face consolidation via M&A.
Table of contents
| Vertical overview | 3 |
| H1 2022 timeline | 4 |
| IoT VC ecosystem market map | 5 |
| IoT landscape | 7 |
| VC activity | 8 |
| Emerging opportunities | 16 |
| Connectivity management | 17 |
| Software-defined vehicles | 20 |
| Wireless power | 23 |
| Select company highlights | 27 |
| Ambiq | 28 |
| Uptake | 30 |