IoT Startups

Attraction is an industrial IoT and SaaS platform that helps frontline workers and maintenance managers predict and prevent machinery breakdowns through sensor monitoring and asset management software. The company grew from $10,000 MRR a year ago to $100,000 MRR today (10x growth), with 100 customers managing approximately 4,000 sensors across industries like aerospace. They raised a $3.7M seed round at a $15-20M valuation and are experiencing strong unit economics with 118% net dollar retention.

Cerebrum X is an AI-powered connected vehicle data platform that processes telematics data from vehicles and uses machine learning to extract insights like driving behavior for insurance companies, fleet operators, and aftermarket warranty companies. Founded in July 2020 by Sandeep Ranjani and three other co-founders, the company bootstrapped for 8-9 months before raising a $5.5M Series A in March 2021. With 7 customers (including a top-3 North American insurer and Azuga, a Bridgestone subsidiary), they reached a $600K ARR run rate within 4 months of going live in June 2022 and expect to hit $1.2M ARR by end of 2022.