# VC firms backing IoT (2026 list) > 213 VC firms backing IoT, 92% active in the last 12 months. Led by Techstars, Andreessen Horowitz, General Catalyst. Ranked by what they funded. Source: https://millionrounds.com/lists/vc-firms-iot (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # VC firms backing IoT Updated 7 November 2026 VC firms we have observed in an ioT round in the last two years. [See all 213 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fvc-firms-iot)The top 25 **213** investors on the list *-1* this week **3,814** cheques in 12 months *-8%* against the market **$9.5M** median round they joined *+19%* against the market median **92%** wrote a cheque in 12 months **57%** have led a round ## The Top 25 Ordered by cheques observed, never by anything anyone paid for Deploying now (25) - 1 [Techstars](https://millionrounds.com/fund/techstars) *Deploying now* VC firm · United States **2,989** **$1.2M** median round **Nov 2026** last seen - 2 [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) *Deploying now* VC firm · United States **1,661** **$27M** median round **Nov 2026** last seen - 3 [General Catalyst](https://millionrounds.com/fund/general-catalyst) *Deploying now* VC firm · United States **1,387** **$27M** median round **Nov 2026** last seen - 4 [SV Angel](https://millionrounds.com/fund/sv-angel) *Deploying now* VC firm · United States **1,349** **$18M** median round **Oct 2026** last seen - 5 [Founders Fund](https://millionrounds.com/fund/founders-fund) *Deploying now* VC firm · United States **1,122** **$15M** median round **Oct 2026** last seen - 6 [Bessemer Venture Partners](https://millionrounds.com/fund/bessemer-venture-partners) *Deploying now* VC firm · United States **1,038** **$30M** median round **Nov 2026** last seen - 7 [SOSV](https://millionrounds.com/fund/sosv) *Deploying now* VC firm · United States **951** **$2.5M** median round **Nov 2026** last seen - 8 [First Round Capital](https://millionrounds.com/fund/first-round-capital) *Deploying now* VC firm · United States **807** **$18M** median round **Oct 2026** last seen - 9 [BoxGroup](https://millionrounds.com/fund/boxgroup) *Deploying now* VC firm · United States **773** **$18M** median round **Nov 2026** last seen - 10 [Norwest Venture Partners](https://millionrounds.com/fund/norwest) *Deploying now* VC firm · United States **705** **$25M** median round **Oct 2026** last seen - 11 [Innovate UK](https://millionrounds.com/fund/innovate-uk) *Deploying now* VC firm · United Kingdom **704** **$1.2M** median round **Oct 2026** last seen - 12 [BDC Capital](https://millionrounds.com/fund/bdc-venture-capital) *Deploying now* VC firm · Canada **685** **$6M** median round **Sept 2026** last seen - 13 [Bossa Invest](https://millionrounds.com/fund/bossa-invest) *Deploying now* VC firm · Brazil **657** **$6.7M** median round **Oct 2026** last seen - 14 [Seedcamp](https://millionrounds.com/fund/seedcamp) *Deploying now* VC firm · United Kingdom **519** **$5M** median round **Nov 2026** last seen - 15 [Mitsubishi UFJ Capital](https://millionrounds.com/fund/mitsubishi-ufj-capital-co-ltd) *Deploying now* VC firm · Japan **493** **$4.7M** median round **Nov 2026** last seen - 16 [Global Brain Corporation](https://millionrounds.com/fund/global-brain-corporation) *Deploying now* VC firm · Japan **480** **$7.6M** median round **Sept 2026** last seen - 17 [GSR](https://millionrounds.com/fund/gsr) *Deploying now* VC firm · United Kingdom **453** **$6M** median round **Jun 2026** last seen - 18 [Partech Ventures](https://millionrounds.com/fund/partech) *Deploying now* VC firm · France **444** **$15M** median round **Oct 2026** last seen - 19 [DCVC](https://millionrounds.com/fund/data-collective) *Deploying now* VC firm · United States **431** **$29M** median round **Nov 2026** last seen - 20 [Kleiner Perkins](https://millionrounds.com/fund/kleiner-perkins) *Deploying now* VC firm · United States **398** **$40M** median round **Nov 2026** last seen - 21 [Mizuho Capital](https://millionrounds.com/fund/mizuho-capital) *Deploying now* VC firm · Japan **397** **$6.5M** median round **Nov 2026** last seen - 22 [Matrix Partners](https://millionrounds.com/fund/matrix-partners) *Deploying now* VC firm · United States **396** **$19M** median round **Aug 2026** last seen - 23 [Draper Associates](https://millionrounds.com/fund/draper-associates) *Deploying now* VC firm · United States **370** **$6M** median round **Nov 2026** last seen - 24 [Balderton Capital](https://millionrounds.com/fund/balderton-capital) *Deploying now* VC firm · United Kingdom **368** **$30M** median round **Oct 2026** last seen - 25 [Inovia Capital](https://millionrounds.com/fund/inovia-capital) *Deploying now* VC firm · Canada **328** **$11M** median round **Nov 2026** last seen **188 more on this list** All 213 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000. [See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fvc-firms-iot) ## The Newest Cheques Rounds this list's investors joined most recently - **6** Nov **[Physicl](https://millionrounds.com/company/physicl)** Seed · $10M *Led by* [Inovia Capital](https://millionrounds.com/fund/inovia-capital) - **6** Nov **[Humble Robotics](https://millionrounds.com/company/humble-robotics)** Series A · $51M *With* [Energy Impact Partners](https://millionrounds.com/fund/energy-impact-partners) - **6** Nov **[Ocient](https://millionrounds.com/company/ocient)** Series C · $100M *Led by* [Boka Capital](https://millionrounds.com/fund/boka-capital) - **5** Nov **[i14](https://millionrounds.com/company/i14)** Seed · $6.3M *With* [Virescent Ventures](https://millionrounds.com/fund/virescent-ventures) - **5** Nov **[Circularity Fuels](https://millionrounds.com/company/circularity-fuels)** Seed · $7M *Led by* [DCVC](https://millionrounds.com/fund/data-collective) - **5** Nov **[Granit](https://millionrounds.com/company/granit)** Seed · $6M *Led by* [Seedcamp](https://millionrounds.com/fund/seedcamp) ## Stages This Year 2,956 rounds - Seed **21%** - Series A **18%** - Venture **18%** - Series B **8%** - Debt **6%** - Other **29%** ## What They Backed Sectors, last 12 months - AI **1,124** - Fintech **189** - Biotech **184** - Healthcare **173** - Big Data & Analytics **148** - Aerospace & Space **129** ## Cheques by Quarter Led Joined 977 Q1 25 1,081 Q2 25 1,177 Q3 25 1,203 Q4 25 1,178 Q1 26 1,060 Q2 26 858 Q3 26 283 Q4 26 The last bar is the quarter still running. ## Lists Like This - [VC firms backing AI 4,329](https://millionrounds.com/lists/vc-firms-ai) - [VC firms backing Fintech 1,856](https://millionrounds.com/lists/vc-firms-fintech) - [VC firms backing Big Data & Analytics 1,248](https://millionrounds.com/lists/vc-firms-big-data) - [VC firms backing Biotech 1,207](https://millionrounds.com/lists/vc-firms-biotech) - [VC firms backing Robotics 1,098](https://millionrounds.com/lists/vc-firms-robotics) - [VC firms backing Construction 1,025](https://millionrounds.com/lists/vc-firms-construction) - [VC firms backing Energy 998](https://millionrounds.com/lists/vc-firms-energy) - [PE firms backing AI 956](https://millionrounds.com/lists/pe-firms-ai) - [VC firms backing Cybersecurity 950](https://millionrounds.com/lists/vc-firms-cybersecurity) [All investor lists *→*](https://millionrounds.com/lists) ## Quick answers about VC firms backing IoT ### Who are the most active VC firms backing IoT? By cheques observed, the most active are Techstars, Andreessen Horowitz, General Catalyst, SV Angel and Founders Fund. ### How many VC firms backing IoT are there? 213 are on record. 92% made an investment in the last 12 months and 57% have led a round. ### Which stages do VC firms backing IoT back? Of the rounds with a named stage in the last 12 months, mostly Seed (28%) and Series A (25%). ### How big are the rounds VC firms backing IoT join? The typical (median) round among the leading investors here is $15M. ### Which sectors do VC firms backing IoT back most? In the last 12 months, mostly AI, Fintech and Biotech. ### Which VC firms backing IoT lead the most rounds? Andreessen Horowitz (114 led), General Catalyst (97 led) and Bessemer Venture Partners (51 led). ### Where are VC firms backing IoT based? Among the most active, most are based in the United States (14), the United Kingdom (4) and Japan (3). ### What have VC firms backing IoT invested in recently? Recent rounds include Physicl (Seed, Nov 2026, with Inovia Capital), Humble Robotics (Series A, Nov 2026, with Energy Impact Partners) and Ocient (Series C, Nov 2026, with Boka Capital). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)