In 2025, approximately 6% of startups in the world are operating in the Hardware & IoT industry. These companies create solutions ranging from critical components to smart networks, defining clear trends across various applications. StartupBlink’s SB Score is a metric based on data from Crunchbase and Semrush. It looks at factors such as website traffic, funding rounds, and team growth. With this metric, this article shows top Hardware & IoT startups and unicorns among more than 13,000 startups in the industry.
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Top Hardware & IoT Unicorns in 2025
Below are the top Hardware & IoT Unicorns of 2025, ranked by an SB Score that factors in investment, web traffic, and employee growth. This industry is represented by approximately 2% of all unicorns. Our Research Members can request custom datasets on industry unicorns and further details on them.
Niantic
SB Score: 727
Location: San Francisco, United States
Niantic is a company focused on creating mobile experiences that blend the digital world with the real world. Founded in 2010, it is best known for developing games and applications that integrating hardware and IoT elements, such as location-based sensors and augmented reality technology to enhance these experiences.
DJI Innovations
SB Score: 706
Location: Shenzhen, China
DJI Innovations is a company that designs and manufactures drones. Founded in 2006, DJI produces hardware that integrates cameras, sensors, and communication technologies to support applications ranging from aerial photography to industrial inspections. The company’s drones often connect to networks and IoT systems, enabling real-time data collection and remote control.
WHOOP
SB Score: 665
Location: Boston, United States
WHOOP develops wearable devices that monitor physical activity and health-related data. Founded in 2012, the company creates bands worn on the wrist that track information such as heart rate, sleep patterns, and recovery. These devices collect data which is then analyzed to provide users with insights about their overall well-being and physical performance. By combining hardware with connected apps, WHOOP helps people understand how their bodies respond to exercise and rest, supporting better daily health decisions.
Anduril
SB Score: 665
Location: Irvine, United States
Anduril is a technology company that develops hardware and software systems for defense and security applications. Founded in 2017, the company creates connected devices such as autonomous drones and sensor networks designed to monitor and protect physical spaces. These systems collect and analyze data in real time, aiming to improve situational awareness and decision-making. They focus on advancing security technologies through automation and connectivity.
Huaqin Communication Technology
SB Score: 629
Location: Shanghai, China
Huaqin Communication Technology is a company that designs, manufactures, and operates smart hardware products. Founded in 2005, their product range includes smartphones, tablets, laptops, smart wearables, AIoT devices, automotive electronics, and data center equipment. Huaqin delivers millions of connected devices annually to customers worldwide, supporting a broad IoT and hardware ecosystem through its integrated approach.
Groq
SB Score: 617
Location: Mountain View, United State
Groq specialized in hardware and software systems designed to accelerate artificial intelligence inference processes. Founded in 2016, Groq creates purpose-built chips called Language Processing Units (LPUs) and a cloud platform to deliver fast, efficient, and reliable AI computations. Their hardware is optimized to run large AI models with low latency and energy use, supporting applications like natural language processing, image recognition, and predictive analysis.
Grover
SB Score: 596
Location: Berlin, Germany
Grover is a company that provides hardware and IoT devices through a subscription rental service. Founded in 2015, the company offers smartphones, laptops, tablets, gaming consoles, and smart home devices. Users can rent devices monthly with the option to return, exchange, or purchase them. Grover also refurbishes returned devices to extend their lifespan. By combining hardware rental with an online platform, Grover offers a more affordable and flexible way for individuals and businesses to access technology.
Flock Safety
SB Score: 590
Location: Atlanta, United States
Flock Safety is a company that designs, manufactures, and operates connected safety hardware products aimed at preventing and investigating crime. Founded in 2017, the company provides automated license plate recognition cameras, gunshot detection systems, and video surveillance devices. These tools are used by law enforcement, neighborhoods, and businesses to collect real-time data and improve response times.
Magic Leap
SB Score: 587
Location: Plantation, United States
Magic Leap is a technology company that designs and manufactures augmented reality (AR) hardware devices. Founded in 2010, they create AR headsets that blend digital content with the real world through see-through lenses and advanced sensors. Their products include spatial computing devices equipped with cameras, depth sensors, eye tracking, and microphones to capture and interact with the physical environment.
PAX
SB Score: 584
Location: San Francisco, United States
PAX is a company that designs and develops advanced vaporizer hardware and related devices. Founded in 2007, they offer portable vaporizers primarily for dry herbs and cannabis concentrates that include features such as precision temperature control, sensors that detect usage and optimize heating, long battery life, and wireless connectivity to smartphone apps for personalized settings and monitoring. By integrating smart sensors and IoT capabilities, PAX delivers an enhanced, controlled, and user-friendly vaporizing experience.
Top Hardware & IoT Startups in 2025
In our database, more than 13,517 Hardware & IoT startups are represented. Here is the top Hardware & IoT Startups of 2025, sorted by the SB Score. Our Research Members can request the datasets on industry startups and further details on them.
Razer
SB Score: 724
Location: Irvine, United States
Razer is a global technology company specializing in gaming hardware, software, and systems. Founded in 2005, they offer keyboards, mice, and laptops targeted at competitive gamers and enthusiasts. Also, they include software platforms and services aimed at enhancing the gaming experience and building an integrated ecosystem around its hardware products. They continues to evolve by deepening the integration between its hardware offerings and cloud-based software solutions.
Micron Technology
SB Score: 706
Location: Boise, United States
Micron Technology is a manufacturer of memory and storage solutions, with a focus on DRAM and NAND flash products. Founded in 1978, Micron has a long history of innovation in semiconductor technology, serving markets including data centers, mobile devices, automotive, and embedded systems. Their advancements are particularly relevant for IoT and AI-driven applications that demand higher memory performance coupled with energy efficiency.
Infineon Technologies
SB Score: 692
Location: Munich, Germany
Infineon Technologies is a semiconductor manufacturer. Founded in 1999 as a spin-off from Siemens, Infineon offers security chips, featuring advanced encryption, are integral to vehicle systems that require stringent protection against cyberattacks. The company is also at the forefront of silicon carbide (SiC) technology development, a material critical for improving the performance and efficiency of electric vehicle powertrains by reducing energy loss and heat generation
Nothing
SB Score: 657
Location: London, United Kingdom
Nothing is a consumer electronics startup known for its design-centric approach and commitment to open ecosystems. Founded in 2020, Its phones and audio products feature distinctive, minimalist aesthetics that challenge industry norms. Nothing’s products use standards that allow easy connection with a wide variety of devices. This strategy connects with a growing user base seeking flexibility and a more transparent technology experience.
UNISOC
SB Score: 639
Location: Shanghai, China
UNISOC is a semiconductor company specializing in mobile communication chipsets, with a particular emphasis on affordable 5G solutions aimed at emerging markets. Founded in 2001, UNISOC provides cost-effective and high-performance chipsets. These chipsets help promote mobile connectivity in areas with limited infrastructure. They also support the growth of connected devices in both consumer and industrial applications.
Pure Storage
SB Score: 635
Location: Santa Clara, United States
Pure Storage is a provider of flash-based data storage solutions designed to handle the increasing volume and speed of data generated by IoT devices and intelligent systems. Founded in 2009, they focuses on delivering low latency and high availability, essential for real-time analytics, edge computing, and industrial automation applications. Their platforms enable businesses to process large-scale IoT data workloads with both speed and reliability.
ChargePoint
SB Score: 632
Location: Campbell, California, USA
ChargePoint provides hardware and software solutions that facilitate widespread electric vehicle adoption. Founded in 2007, ChargePoint combines charging stations with intelligent software that optimizes energy consumption, grid integration, and user experience. Their platform allows utilities and operators to manage electricity demand in real time and implement variable pricing models, which are key to supporting sustainable transportation infrastructure and help ease pressures on the grid.
Wyze Labs
SB Score: 632
Location: Seattle, Washington, USA
Wyze Labs is a smart home technology company that focus on affordability and accessibility. Since its founding in 2017, they have been offering cost-effective devices such as security cameras, smart plugs, and sensors. Users can control Wyze products through one app. Their approach highlights how IoT technologies can become common through smart pricing and simple design.
SK Hynix
SB Score: 629
Location: Icheon, South Korea
SK Hynix makes of DRAM and NAND flash memory, essential components for the performance of mobile devices, data centers, and IoT systems. Founded in 1983, the company has driven significant innovations, particularly with its 3D NAND technology, which increases storage density and reduces power use. This advancement is critical for creating smaller and more energy-efficient IoT devices. SK Hynix reported a 25% increase in storage density compared to previous memory technologies.
GoPro
SB Score: 628
Location: San Mateo, United States
GoPro is a manufacturer of durable action cameras for consumers and professionals. Since starting in 2002, the company has focused on durable, high-quality video capture devices that perform well under extreme conditions. By 2025, GoPro has added cloud-based services and AI video editing tools. This integration of hardware with software services reflects evolving consumer preferences for seamless content creation and distribution in real time.
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