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. Join our Research Membership for extensive industry data, tailored insights, and custom datasets that answer your research questions. 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. NianticSB Score: 727Location: San Francisco, United StatesNiantic 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 InnovationsSB Score: 706Location: Shenzhen, ChinaDJI 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.WHOOPSB Score: 665Location: Boston, United StatesWHOOP 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.AndurilSB Score: 665Location: Irvine, United StatesAnduril 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 TechnologySB Score: 629Location: Shanghai, ChinaHuaqin 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.GroqSB Score: 617Location: Mountain View, United StateGroq 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.GroverSB Score: 596Location: Berlin, GermanyGrover 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 SafetySB Score: 590Location: Atlanta, United StatesFlock 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 businesse