One trend we’ve been tracking is the “Internet of Things” — the idea that at some point, all devices will be intelligent and connected, allowing for things like whole home automation. The problem is that most new systems equipped to connect to the Internet are reliant on proprietary software and hardware usually tacked on by the vendor. So whatever devices do come to market Internet-ready tend to be overly expensive, and don’t play well with others.

That’s where Electric Imp comes in. The startup was founded on the premise of decoupling all the connectivity and intelligence for these connected systems from the devices themselves, and instead, letting those applications be powered by a tiny chip, lovingly called an “Imp.”