We invest in founders with a passion for the disruptive force of a connected world.
Notable Achievements
We scaled the infrastructure to support an additional 50 billion devices within 2 years of our launch.
The Business
The global market for the Internet of Things and the supporting ecosystem is expected to exceed $7.1 trillion by 2020. In 2013 alone, the market exceeded $1.9 trillion, with over 90% of all IoT devices in developed regions. Estimates range from 25 to 50 billion individual connected devices by 2020, with a compound annual growth rate of 17.5%. [IDC, Goldman Sachs, Gartner]
We are experiencing a Cambrian explosion of connected devices, no question. However, the Internet of Things is not simply a collection of these edge devices. There are enterprise and consumer applications, industrial automation, and an entire stack of infrastructure beneath those devices.
To make the next Nest, Sonos or Dropcam come to life, we need a powerful and stable ecosystem up and down the stack.
Andy Smith / Center Electric Venture Fund
