Billion Dollar Unicorns: Will C3 IoT Look To Acquire A Few Indian Startups?

Analysts estimate the global Internet of Things (IoT) market to grow 29% annually over the next few years to become a $457 billion industry by the year 2020 from $157 billion in 2016. Redwood City-based C3 IoT is a leading player and a Billion Dollar Unicorn member in the sector.

C3 IoT’s Offerings

C3 IoT was founded in 2009 by billionaire entrepreneur Tom Siebel. Prior to founding C3 IoT, Tom had founded Siebel Systems, which was bought by Oracle in 2006. After the sale of Siebel to Oracle, Tom became an investor and a philanthropist. As part of this tenure, he decided to build software to help electric grids manage energy flows to homes. By 2009, he had raised $20 million from his friends and contacts to set up C3 Energy. But within a year, Tom was involved in a terrible accident that needed a two-year long recovery. Once he recovered, though, the macro conditions had changed. Oil prices had fallen, and there was a global economic meltdown. C3 Energy was nearly bankrupt.

That did not put Tom out of the market. He restructured the organization and spent the next two years focusing on collecting and analyzing data from sensors and industrial machines. He was ahead of the curve when IoT was being born. By 2016, he rebranded C3 Energy to C3 IoT and became a full-stack IoT cloud-based development platform provider. It expanded from the energy sector to address the manufacturing, oil and gas, aerospace and defense, transportation, healthcare, retail, commercial services, and public-sector enterprises.

Today, C3 IoT’s platform enables organizations to design, develop, and deploy enterprise-scale Big Data and IoT applications by leveraging telemetry, elastic cloud computing, analytics, and machine learning. It provides pre-built SaaS IoT applications including predictive maintenance, fraud detection, sensor network health, supply chain optimization, investment planning, and customer engagement to its customers. It has become the world’s leading provider of Big Data, IoT, and AI applications that helps organizations with their digital transformation objectives.

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Sramana Mitra is the founder of One Million by One Million (1M/1M), a global virtual incubator that aims to help one million entrepreneurs ...

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