Japanese-Israeli Internet of Things (IoT) startup IQP, which provides a platform for developing and executing IoT applications, has partnered with three Japanese giants. The companies that are partnering with IQP include Fujitsu, NEC Engineering and KDDI.
IQP is now in the process of raising its first external funding round and is expanding its activity in the US in search for new customers and partners. The company has already established presence in New York City and plans are underway to set up a branch in the Silicon Valley during this year.
Israeli entrepreneur Guy Kaplinsky, who serves as the company’s CEO, founded IQP in 2011 with an owner investment of $5 million. The company, which launched its sales activity in 2014, is headquartered in Tokyo with R&D operations near Tel Aviv, Israel.
According to a Gartner report on the growth of IoT, by 2020 there will be 26 billion objects connected to the internet, excluding PCs, tablets and smartphones. Due to the typically large investment of both time and money involved in developing and commercializing IoT applications, American and international companies still find it difficult to develop profitable business models around IoT.
IQP’s platform makes it simple for brands, manufacturers, telecom operators, public service providers and other organizations to quickly develop applications in IoT and other areas, without any knowledge in programming code. It also enables companies to create their own App Market and allow third parties to develop applications for an ecosystem which generates profits from IoT applications. As a result, the companies turn their Internet of Things activity from a source of expenses and risks to a source of ensured revenue from new services. For example, global corporations such as car manufacturers are required to develop, finance and maintain on their own free IoT applications in many countries over the world.
“IQP is building its trusted partner relationships by listening to the partner’s needs and responding proactively to help the company achieve its objectives,” said Guy Kaplinsky, IQP founder and CEO. ”This business momentum prompts us to enter the American market and we are committed to expand our customer base here. Our platform is capable of changing the way IoT will operate in the fields of automotive, cellular, energy, healthcare, smart home, smart city and education. Each one of these fields is an enormous market in itself, which indicates the huge business potential of our platform.”