Swedish IoT startup Minut raises €7.2M funding for its camera-less smart home monitoring device

Swedish IoT startup Minut raises €7.2M funding for its camera-less smart home monitoring device

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The Internet of Things or IoT is emerging as a promising field of technology. This is one of the widest ecosystems in the world. IoT is nothing but an extension of the internet to devices and assets that pave the way for smart home solutions. This industry continues to evolve and grow into several applications, products and businesses.

Minut, a Swedish startup, founded in 2014 by Nils Mattisson in Malmö has developed a camera-less smart home security device, which is touted to be better than its rivals in protecting the privacy of users.

Secures €7.2M Series A funding

Minut has just secured $8 million (nearly €7.2 million) Series A funding in a round led by KPN Ventures along with participation from Centrica, which is the new investor. Also, the previous investors including SOSV, Nordic Makers and Karma Ventures have taken part in this funding round. With this recent investment, the total funding raised by Minut is €9 million.

“We’re excited to have seasoned investors KPN Ventures and Centrica join us in Minut,” said Tommi Uhari, Founding Partner at Karma Ventures and chairman of Minut. “Their investment validates the innovative and unique product developed by the team at Minut and shows how it’s relevant for partners in several industry verticals. We look forward to deepening our collaboration on the board in the future.”

Monitors your home sans camera!

Minut’s wireless smart home alarm, which monitors your home sans invasive cameras is called Point. As there are no cameras, this smart home alarm system assures privacy. Well, Point uses motion detection, humidity and temperature tracking and noise monitoring to send instant mobile alerts in case of an unusual occurrence at your home. Minut’s Point can be installed in as little as five minutes and is priced at €149.

Works with a companion app

Point works with the free Minut app, which is compatible with both Android and iOS devices. The app will display instant notifications wherever you are. You can also create a network of family and friends who are safeguard your home while you are away. Minut can detect alarm sounds and will notify you if your smoke or CO2 detector goes off.

Worthy features

Apart from temperature and humidity monitoring, Point from Minut can also analyse the risk of mould growth. When it happens, the device will alert you via the app and offer suggestions to reduce it as well. Recently, the company introduced the Nightlight feature that lets you choose the number of hours the nightlight should be turned on.

Stay tuned to Silicon Canals for more updates in the tech startup world.

Also read,

French AI startup DriveTrust raises €1.5M funding for a safer driving future

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