Staying ahead of the technology curve means strengthening your competitive advantage. That is why we give you data-driven innovation insights into the FMCG industry. This time, you get to discover 5 hand-picked Internet of Things startups.
Global Startup Heat Map highlights 5 Top Internet of Things Startups out of 334
The insights of this data-driven analysis are derived from the Big Data & Artificial Intelligence-powered StartUs Insights Discovery Platform, covering 1.379.000+ startups & scaleups globally. The platform gives you an exhaustive overview of emerging technologies & relevant startups within a specific field in just a few clicks.
The Global Startup Heat Map below reveals the distribution of the 334 exemplary startups & scaleups we analyzed for this research. Further, it highlights 5 Internet of Things startups that we hand-picked based on criteria such as founding year, location, funding raised, and more. You get to explore the solutions of these 5 startups & scaleups in this report. For insights on the other 329 IoT solutions, get in touch.
Impacx develops Internet of Packaging Solutions
The Internet of Things is transforming multiple industries including manufacturing, FMCG, and packaging. For example, using smart packaging for consumer goods enables companies to collect real-time end-user consumption data through sensors. FMCG companies then use these consumer insights to make their business models more consumer-centric and increase sales. To this end, startups develop Internet of Packaging solutions to better understand consumer requirements and devise appropriate product strategies.
Israeli startup Impacx transforms regular packaging such as bottles into smart bottles with the help of sensors. The sensors enable the measurement of the content in the bottle, without any contact with the material. Moreover, the sensors interact with consumers via light, vibration or alert, and connect the package to a smartphone or any other communication hub. Further, a mobile application enables brands to communicate and engage directly with consumers to offer promotions, information, and location-based recommendations.
BeaconsTalk builds an IoT Sensor Network to Support Consumer Brands
The creative use of IoT sensor networks brings retailers and consumer product manufacturers closer together. For instance, IoT solutions disrupt every link in the value chain of CPG products – from back-end manufacturing and research to front-end marketing. IoT sensor networks facilitate the digitization of every segment in the supply chain of consumer products. To this end, startups leverage IoT sensor networks to understand location-based real-time demand for CPG products to fulfill the constantly changing consumer requirements.
Indian startup BeaconsTalk builds an IoT sensor network that supports consumer brands, retailers, and advertisers. The startup leverages Bluetooth Low Energy (BLE), WiFi, and Near Field Communication (NFC) to collect consumer data in high footfall physical locations. This enables FMCG brands to directly engage with consumers for advertising their products. Additionally, BeaconsTalk’s SDK and Application Programming Interface (API) supports proximity campaigns on both Android and iOS applications to target users in real-time and boost sales.
Vision IOT creates an IoT Platform for Consumer Packaged Goods (CPGs)
In brick and mortar retail stores, connected devices emit consumer data that FMCG organizations capture and use to define products that evolve with consumer demand. Real-time consumer data collection is made possible with the help of various IoT devices and networks. For example, many brands are employing IoT through beacons and geofences to understand customer interactions with various products in retail stores. Startups and scaleups, for example, develop IoT platforms that enable real-time visibility of inventory levels at retail outlets and trigger automated fulfillment at the manufacturer’s end.
Bulgarian startup Vision IOT provides a consumer-centric IoT platform for CPGs. The startup’s lead product Harbor, a device-agnostic platform, enables advanced analytics and real-time insights. Moreover, the solution detects empty spaces on shelves to ensure brands utilize the maximum retail space available to them. Further, the startup offers a solution to track and trace inventory in warehouses and in transit. This reduces pick times and manages assets with a Just in Time (JIT) approach.
SharpEnd leverages QR Codes to Connect Brands and Consumers
Quick Response (QR) codes are simple but capable of storing vast amounts of product information that enables consumers to effectively interact with brands. Smart packaging solutions carry QR codes that enable FMCG companies to increase their sales by quickly and seamlessly providing necessary product information through QR code scanners on smartphones. Further, FMCG companies leverage QR codes to convey promotional activities and royalty programs as a part of their marketing strategies.
British startup SharpEnd offers connected packaging solutions that bring brands closer to consumers. The startup, in collaboration with an FMCG company, deployed 100 million unique QR code-enabled packages across 90 products. This enabled the FMCG client to promote functional product information, provide access to royalty programs and local brand events. The startup’s solution has applications in fast fashion, beverages, luxury, and FMCG industries.
Coolmat.io develops an Automation Solution for Inventory Control
Eliminating the middlemen between FMCG companies and retailers ensures considerable cost reductions and results in a seamless and agile supply chain. Inventory carries a cost to everyone who deals with physical products but optimizing inventory is crucial for FMCG companies as it drives cost down. Retailers optimize inventory in order to meet varying customer requirements. In order to bridge this gap, startups develop IoT solutions that enable manufacturers and retailers to work together and optimize each other’s inventories.
The US-based startup Coolmat.io develops automation solutions for inventory control. The startup’s IoT Cloud for commercial refrigeration and shelving systems enables FMCG companies to monitor and track inventories at the retail end in order to plan for better supply. The startup leverages cameras, temperature, and weight sensors to track the inventory levels in commercial refrigerators to collect data. This data is analyzed with the help of an Artificial Intelligence-powered platform to derive consumption analytics and reduce stock-outs at retailers.
Discover more FMCG Startups
FMCG startups such as the examples highlighted in this report focus on sustainability, customer experience, direct distribution as well as 3D printing. While all of these technologies play a major role in advancing the FMCG industry, they only represent the tip of the iceberg. To explore more FMCG technologies, simply get in touch to let us look into your areas of interest. For a more general overview, you can download our free Retail Innovation Report to save your time and improve strategic decision-making.