The Internet of Things is one of the UK’s most dynamic technology sectors, connecting physical devices to the internet across industries from healthcare and energy to transport and agriculture. Investment in IoT companies surged to a peak of £866.4m in 2022, and while funding has moderated since, 2025 still saw £224.4m raised by UK IoT companies — keeping pace with the prior year’s £230.5m.
We’ve ranked the top 100 IoT companies by total equity raised (all data sourced from the Beauhurst platform).
What is IoT?
The Internet of Things — commonly shortened to IoT — refers to the network of physical devices embedded with sensors, software, and connectivity that enables them to collect, exchange, and act on data. IoT companies build the hardware, software, platforms, and infrastructure that power this connected ecosystem. Applications span smart homes and buildings, industrial monitoring, healthcare wearables, connected vehicles, smart city infrastructure, energy management, and agriculture.
The UK is a significant hub for IoT innovation, with more than 802 IoT companies currently active. This has increased 102% in the past ten years (2015–2025).
Collectively, UK IoT companies have raised £3.02b in equity funding so far, with £2.22b secured since 2020 alone — reflecting a sharp acceleration of investment into the sector in recent years.
These companies employ an estimated 118,538 people and generate a combined turnover of £39.1b, underscoring the scale and commercial maturity of the UK’s IoT ecosystem.
Key findings
- Connected Kerb, a manufacturer and installer of electric vehicle charging infrastructure, tops the list with £182.7m raised — nearly £30m ahead of second-placed FluidStack, a London-based company developing distributed cloud computing technology.
- London accounts for 42 of the top 100 companies, making it the dominant hub but less overwhelmingly so than in other UK tech sectors. The South East is the second most represented region with 17 companies, followed by the East of England with 14 — a notably strong showing likely driven by proximity to the Cambridge technology cluster. Beyond these three regions, companies are spread across the West Midlands, North West, Scotland, Northern Ireland, and elsewhere.
- The top 100 are split between Venture (49 companies) and Growth (30 companies) stages, with 11 Established businesses also making the list. The higher proportion of Established companies compared to other emerging sectors reflects IoT’s longer history and the hardware-intensive nature of many of its businesses.
- The top 100 have collectively raised £1.77b — representing roughly 59% of all IoT equity funding in the UK. The top five alone account for over £568m, highlighting the concentration of capital at the top end of the market.
