Paradigm shifts have taken place across various industries, and services based on IoT and AI have begun to be introduced. With the introduction of IoT and AI, which can control the operation of the product, servitization of traditional products is occurring extensively. The pace of this digital transformation is being accelerated by the outbreak of COVID-19. This case study examines the background of the establishment of Simplatform, a company that focuses on services through the IoT cloud service platform. The technological background of the Nubison IoT platform is introduced here with accompanying business models, and real cases of service development. Simplatform is partnering with incumbent companies of industrial equipment manufacturers and distributors, in providing services through the Nubison IoT. Simplatform is also preparing to take a new turn by focusing on non-face-to-face medical services and healthcare-related services. Though the IoT cloud service platform market is at its early stage, the use cases and current social trends suggest the potential for future development. The case analysis presented here may enhance our understanding of the difficulties and decisions involved in developing new businesses using new technology for future markets.