US networking systems maker Cisco Systems, Inc. said it will invest $150 million into startups and startup accelerators in a bid to gain more solid footing in the Internet of Things or IoT.

The IoT is an emerging technology revolution that aims to connect up to a trillion ordinary things via networking, allowing these things such as refrigerators, cars, and other mundane everyday items to send and receive data via the Internet. Pundits expect the IoT to revolutionize homes and businesses and to be a dominant feature of any future world.

Cisco wants to be part of the mammoth IoT market and has said it would dedicate money and entire business units to partnering with tech startups involved in building for the IoT. Cisco's $150 million IoT fund will be invested over the next three years.

Cisco's first investments, made this week, include Ayla Networks, a startup in Sunnyvale that makes software that collects information sent over the Internet from devices such as air conditioning units and door locks, and delivers that data to manufacturers and consumers. Ayla's technology will tell you when you've left the lights on or left the sprinklers running.

Cisco has invested in Evrythng, a British startup that makes applications to connect consumer products to the Web. It has also put money into Alchemist Accelerator, a Bay-Area based company that helps launch startups selling products to businesses.

Alchemist Accelerator has launched five startups that create technology for the IoT and with Cisco funding, hopes to take on another 20 this year.

Cisco's new IoT fund will allow it to attract partner funders for bigger investments. It will make Cisco more active in the startup community and expand its portfolio, said Hilton Romanski, senior vice president for corporate development.

Cisco's IoT fund will help establish a new Cisco investment arm similar to Google Ventures, Google's venture capital business.

"There really is no monopoly on innovation," said Hilton Romanski, senior vice president for corporate development at Cisco.