Internet of Things Startups

LUMO Labs is a two-year accelerator in Europe focused on early-stage VR, AR, and smart hardware startups, taking about 30% equity and providing 100,000 to 150,000 euros plus hands-on support. Its portfolio company Free (also called Fria) is building a wireless, full-body VR experience platform, and it is pursuing arcade and pop-up venue partnerships, with revenue described as present but not yet substantial.

Crowley Carbon, founded in 2011, operates an IoT and software platform called Clarity that helps manufacturing plants optimize energy efficiency and operations. The company installs low-cost wireless sensors throughout factories and uses AI/ML to identify savings opportunities, operating in 4,000+ factories across 23 countries. The flagship customer alone generates $3M annual revenue while saving $100M annually, and the energy efficiency business alone now exceeds $100M in annual revenue.