IoT startups have raised $7.4 billion in funding since 2010

A November report from CB Insights shows that more money is being spent on each IoT startup deal this year. Since 2010, total spending over 887 deals has reached $7.4 billion.

The total value of deals this year is projected to be worth nearly $2 billion across 188 separate deals. Only 141 deals have been completed when the report was published. In 2010, $768 million was invested in 91 deals among IoT startups. Last year saw about the same amount of funding or $1.98 billion, as projected this year, but with 221 deals in 2014 and 188 projected for 2015.

According to the report, four of the last six quarters have seen investment top $500 million. The second quarter of this year saw the most funding with $626 million. That quarter saw two particularly large investment deals: DJI Innovations picked up $75 million in Series B funding and mixed-reality gaming company Orbotix got $45 million. The definition of IoT startups here is a little broad, but CB Insights defines it as a company involved in “commercializing connected objects, appliances, sensors, and devices, along with supporting infrastructure and software.”

So where is the money going? Well, the top three companies were View, Proteus Digital Health and Jawbone. View makes smart windows and environment-friendly building glass; Proteus Digital Health makes ingestible sensors that can measure physiological responses to medicine and Jawbone is now well known for its smart wristbands. Sensors appear to be the big business and there is a lot of money going into “connected” devices these days.