Startup raises $5.5 million for smart IoT batteries
This brings the amount raised by Roost to $6.5 million.
The company was founded by CEO Roel Peeters and CTO James Blackwell, who were both previously with Ozmo Devices Inc., in 2014. Ozmo was acquired by Atmel Corp. at the beginning of 2013.
The investment round was led by RPM Ventures. Existing investor, DCM Ventures and IoT funds, Center Electric and StartGarden also participated in the funding round. Roost added Adam Boyden from RPM Ventures to board of directors.
The company has developed a PP3 format 9V battery for smoke alarms that also houses a computer node that can link to a smoke phone via Wi-Fi. An application on the smartphone can be used to switch off false alarms and it can be used to alert the owner to smoke alarm activity. The unit still functions as a battery and can last for five years and will warn of low battery status via the app.
The Roost battery is priced at $34.99.
"Roost is blazing a path for the broad adoption of IoT in the home," said Adam Boyden, managing director of RPM Ventures, in a statement issued by Roost.
