Centrica plc has announced an investment into Minut, a Scandinavian tech startup that has developed a unique product designed to keep homes safe and sound.
Founded in 2014, Minut has developed an intuitive smart home alarm that combines wireless sensor technology with machine learning to monitor the home environment. It also detects any motion or sound within the home and alert users to threats through instant notifications. Easy to self-install in less than five minutes, the units are already being sold in 60 countries, with particular success in the rental market where owners are looking for peace of mind for their properties.
The investment has been made by Centrica Innovations, established to invest in innovative technologies and ideas that will transform the way we live, work and move. The team has made more than 11 investments globally in the past two years, making it one of the most active corporate venture capital players in the energy industry.
Marc Sabas, Venture Principal for Centrica Innovations said, “We first came across Minut as part of our Active Ageing start-up challenge last year and have been really impressed to see how their product has continued to develop over the past year. As a global leader in providing cutting-edge connected home products and services, we look forward to working in partnership with the Minut team to explore further opportunities to deliver products that offer greater choice, control and comfort over our customers’ homes.”
The investment has been made as part of an $8m Series A funding round with new capital to be used to accelerate growth across markets and to strengthen the product portfolio.