The Week in Review: IoT

Finance
Mountain View, Calif.-based FogHorn Systems has received Series B funding of $30 million, led by Intel Capital and Saudi Aramco Energy Ventures. The new round brings the Industrial Internet of Things edge computing startup’s total funding to $47.5 million. Honeywell Ventures is a new investor, joining existing investors Darling Ventures, Dell Technologies Capital, GE Ventures, March Capital Partners, Robert Bosch Venture Capital, Yokogawa Electric Corp., and a seed investor, The Hive. FogHorn will use the funds to expand its staff and to market its newest product, Lightning ML, a machine learning tool for the edge.

M&A
Dialog Semiconductor has agreed to acquire Silego Technology, a supplier of configurable mixed-signal ICs for the IoT and other applications, for $276 million in cash and additional conditional consideration of up to $30.4 million. The transaction is expected to close in this quarter. Silego anticipates having more than $80 million in revenue this year, with double-digit growth for 2018.

Market Research
Frost & Sullivan forecasts the number of IoT devices will increase from 12.44 billion last year to more than 45.41 billion by 2023, for a compound annual growth rate of 20.3%. The market research firm has a new report, IoT Security Watch – Key Market Needs and Solutions in the IoT Landscape. We will note here that October is National Cyber Security Awareness Month.

National Instruments brought out its NI Trend Watch 2018 forecast. The Industrial IoT market has “3 Mandates” it must address, the report says. Read more here.

Conferences
The IoT 2017 Payments conference happens next week, Oct. 10-11, at the Hyatt Regency in Austin, Texas. The event is put on by the Secure Technology Alliance, formerly known as the Smart Card Alliance.

Recognition
CENTRI received the 2017 North America Entrepreneurial Company of the Year Award for IoT cybersecurity from Frost & Sullivan. Did we mention that this is National Cyber Security Awareness Month?

Products/Services
The Intel Secure Device Onboard service was unveiled this week at the IoT Solutions World Congress in Barcelona, Spain. The chipmaker says Intel SDO securely automates IoT devices and brings them online in seconds. The service, which employs the Intel Enhanced Privacy ID signature software, is being offered to IoT platform providers.

Policy
The Information Technology Industry Council issued the National IoT Strategy Dialogue report, calling on Congress and the Trump Administration to adopt a uniform, broad-based definition of the IoT and passing the bipartisan Developing Innovation and Growing the Internet of Things Act bill, among other recommendations. The council is supported in this initiative by Intel, Samsung Electronics, the Semiconductor Industry Association, and the Chamber Technology Engagement Center (C_TEC) at the U.S. Chamber of Commerce.

Awareness
Did you know that it’s National Cyber Security Awareness Month? It is!