Swedish scale-up Minud raised the funding for its camera-less home security device.
The EIT Digital Accelerator supported scale-up has raised USD 8 million in a financing round led by KPN Ventures with participation from international energy and service company, Centrica. Existing investors Karma Ventures, SOSV and Nordic Makers also participated in this series, bringing total funding to over USD 10 million.
The new capital will be used to accelerate growth across markets and to strengthen the product portfolio.
Nils Mattisson, CEO & Co-founder of Minut
Minut has developed the wireless smart sensor, Point, which detects a range of different events in a room without the use of a camera, making home security affordable in a way that doesn’t compromise privacy. Point can detect motion, temperature, humidity, the breaking of glass, mould, light, and noise. Besides notifying the user, the Point interface also allows users to link to neighbours, friends and other family members, so they can quickly react.
Headquartered in Malmo with additional offices in Stockholm and London, Minut was selected by EIT Digital as one of Europe’s most outstanding scale-ups in 2018. They joined the Accelerator programme at the beginning of 2019 with the goal to accelerate their growth in the EU market and the Silicon Valley. To date, Minut has shipped more than 10 000 units of its devices to over 60 countries and employs around 30 people.
Point’s simplicity and ease-of-use is unique in that it offers users peace-of-mind without the intrusion of multiple connected devices and cameras. Minut’s solution reflects the outstanding team and their heritage from global consumer tech and smart device leaders. They provide an outstanding solution in a field where other innovations tend to lead to increased complexity. Their recent successful funding round is testament to the quality of the team, the proposition, and their market potential.
Fredrik Hanell, EIT Digital Accelerator
EIT Digital supported Minut
Minut was co-founded by Nils Mattisson, CEO who spent seven years in Silicon Valley working in the Exploratory Design Group at Apple; Marcus Ljungblad, Head of Growth; Martin Lööf, Head of Manufacturing; and Fredrik Ahlberg, Head of Research with the idea that home security should be accessible to everyone and never come at the expense of privacy. Together they developed a smart home alarm that detects motion, monitors noise, temperature, humidity, and mold risk, ensuring your home is safe.
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