Years-long decline before final shutdown · Fatal mistake: Chilean mining companies (BHP, Codelco) bought IoT through parent company Rockwell Automation and ABB agreements; IoTCHI had no channel into mining procurement
Evaluating only IoTCHI’s profile at its peak — without knowing the outcome — the model ranked Competition as the #1 likely cause. That’s exactly how it died.
Key Events Timeline
FOUNDING
FUNDING
MILESTONE
SHUTDOWN
Full Analysis
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Documented cause
IoTCHI built connected sensors for Chilean mining operations. Rockwell Automation Chile and ABB Chile had decade-long relationships with major mining clients. IoTCHI's pilots were technically successful but couldn't convert to contracts against incumbent automation vendors.
Lesson
“Chilean mining IoT startups must become certified third-party application developers for Rockwell FactoryTalk — the automation platform is the distribution channel.”
Failure anatomy
Collapse type
Slow Death
🐌 LOW
Hype cycle
Peak
Moat type
Technology
Fatal mistake
Chilean mining companies (BHP, Codelco) bought IoT through parent company Rockwell Automation and ABB agreements; IoTCHI had no channel into mining procurement