Remember the Internet of Things? That always-on-the-verge-of-going-mainstream trend that would have our fridges, pets, car keys, and homes outfitted with sensors that constantly report on their well-being  or whereabouts  via a wireless network?

Well, it's still on the verge of going mainstream, and now there is an investment firm setting up shop in Needham to try to accelerate the arrival of what it calls "the next explosive wave of the internet the Internet of Things." The founders of IoT Works are Woody Benson, formerly the managing director of Prism VentureWorks, and Philip DesAutels, who had helped Microsoft develop its education business.

They're not saying much yet about the new firm  or whether they've actually raised money so that it can make investments or acquisitions. (Their description of IoT Works is below.) "Investments and advising will be happening for sure," Benson says via e-mail, adding, "We are working on a big play with a global partner." IoT Works publishes a blog and e-mail newsletter newsletter focused on topics like sensors, connected lightbulbs, autonomous cars, and healthcare applications.

I asked Benson about Prism, the Needham-based VC firm he has run for more than eight years; it was unable to raise additional money from its backers, despite backing a few winners like LogMeIn, m:metrics, and Maven Networks. "Prism is not making new investments," he explained. "We have plenty of [capital] reserves to support our companies. I will remain a [general partner] and do everything I can to get value from our investments."

Here's their description of the opportunity: