Net Feasa have chosen to use crowd funding to get to the next stage with their IoTPass solution.
Crowd funding is , of course, nothing new, but is not that common in the B2B space. It does offer a number of advantages as your backers are more than just “professional investors”, they are typically ambassadors and very willing to promote your product and participate in its development.
That is perhaps also the downside to it, i.e. they are not professional investors, and require a different kind of involvement in the process than most startups are geared to. So it really does depend on your needs, and for Net Feasa, there is an immediate need to test the technology in as many scenarios and conditions as possible, and so crowd funding/co-creation makes sense.
You can check it out at Kickstarter.
UPDATE: Unfortunately the project did not reach its targeted funding. Some times (actually a lot of times) this happens to even the best of ideas. Crowdfunding is not as easy as it sounds, and as mentioned is typically mostly succesfull in the B2C space.