ThingsUp
Thingsup is a robust platform where companies can quickly set up things like live tracking, alerts and remote controls for devices used in logistics, manufacturing, and utilities.
Founders
Co-Investors
GSF
Silverneedle Ventures
Udyat Ventures
Lead Angels
ThingsUp Business Model
ThingsUp is a company that helps other businesses build smart, connected devices more easily. They’ve created a robust platform where companies can quickly set up things like live tracking, alerts and remote controls for devices used in logistics, manufacturing, and utilities. Instead of spending a lot of time and money on complex tech, businesses can use ThingsUp’s ready-to-use tools to get their IoT (Internet of Things) systems up and running in hours. Whether it's tracking delivery trucks or monitoring machines, ThingsUp makes it easier to build and manage these smart systems.
Why we invested in ThingsUp
We believe ThingsUp is solving a major pain point in the IoT space: the complexity and high cost of building and deploying connected devices at scale. Traditionally, companies looking to create IoT solutions need to invest heavily in hardware development, backend infrastructure, and real-time data systems, requiring deep technical teams and long development cycles. ThingsUp simplifies this entire process with a low-code platform that lets businesses build, deploy, and manage IoT applications quickly and cost-effectively. It offers real-time data tracking, alert systems and device management tools out-of-the-box, allowing teams to focus on their core business while ThingsUp handles the backend complexity.
An important turning point in ThingsUp’s journey came when the team, in close collaboration with Pras Hanuma and Akshay, brainstormed on new market opportunities and pivoted from being a pure SaaS product to a Monitoring as a Service (MaaS) model. This led to the birth of their new flagship offering, Asset Monitoring Services, which opened up a fresh, high-growth high TAM revenue stream. In just four months following this strategic shift, annual revenue doubled, validating the new direction. With this momentum and the strengthened partnership, ThingsUp is now projecting a 8x revenue increase for the coming year. This rapid transformation not only highlights the agility of the team but also the effectiveness of focused mentorship and market-aligned execution.
Where’s ThingsUp headed:
As of late 2024, ThingsUp entered in to ‘Monitoring As a Service’ domain; which is a multi-billion Dollar space. Within a span of 4 months, ThingsUp has seen Annual Revenue growing by 2X from last year. And an updated next year projections to 7X, from last year. The company's innovative solutions and robust growth trajectory in recent months, suggest significant potential for very high growth in the near future.