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IoT Startups in India Grow 10x in Last Four Years
Startups in the Internet of Things (IoT) segment has grown ten fold, according to IoT Forum, a think-tank to build the IoT Ecosystem in India. In 2014 India had only 126 IoT Startups and today the number of IoT startups in India have increased to 10X in last four years, with 31% growth alone since last year, according to Venkatesh Kumaran, Somshubhro Pal Choudhury and Arvind Tiwary, co-chairs of IoT Next. IoT Forum, which was launched in 2014 is an initiative by TiE and IESA to engage startups, corporates and investors across the country. Back in 2014, it was just a handful of IoT start-ups, with no ecosystem support and hardly any investors. Today, we have over 1,250 IoT start-ups, many generating revenue not just in India but globally and smaller size exits already happening, they added.
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