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Swedish smart home security startup raises $8m

Swedish smart home security startup raises $8m

Business news |
By Nick Flaherty



Minut has created a smart home security device using machine learning that is easy to install and operate. It uses heat sensing to detect motion and includes a microphone to detect sounds such as intruders or breaking glass, and also monitors temperature and humidity in the home. connecting via WiFI to an app. It deliverately does not include a camera. 

The Series A funding round was led by KPN Ventures, the venture capital investment arm of KPN, with participation from previous backers Karma Ventures, SOSV and Nordic Makers, an strategic partner Centrica. This brings the total investment to over $10m.

The Minut smart home alarm analyses the environment and any motion or sound will be identified and alerts houseowners to threats through instant notifications. Through the use of machine-learning the sound recognition is continuously improved by the Minut community, making the system even better over time. However it struggles to distinguish between people and pets, and the rechargeable battery lasts around six months.

“Feeling safe shouldn’t be a luxury, or come at the cost of privacy. Until recently the most affordable solution for home security and monitoring has been Wi-Fi connected cameras, but people don’t want or trust them in their homes. Our aim is to make home security and monitoring accessible to everyone and we are excited to have KPN Ventures on board in this journey,” said Nils Mattisson, CEO and co-founder of Minut.

Minut was founded in 2014 by Mattisson, who spent seven years in the Exploratory Design Group at Apple, along with  Marcus Ljungblad, Head of Growth, Martin Lööf, Head of Manufacturing and Fredrik Ahlberg, Head of Research. It employs 30 people across its headquarters in Malmo, with offices in Stockholm and London and has sold more than 10,000 units in 60 countries.

www.minut.com

 

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