The Swedish tech startup behind the Minut smart home alarm has raised $8 million in Series A funding, bringing its total amount raised so far to over $10 million. The investment round was led by KPN Ventures and sees Centrica as a new investor, alongside previous backers Karma Ventures, SOSV, and Nordic Makers. The new capital will be used to accelerate growth across markets in 60 countries and to strengthen the product portfolio.
Nils Mattisson, CEO of Minut, who founded the startup back in 2014 explains what makes Minut different from other monitoring apps on the market:
“We have created the first complete smart alarm to keep your home safe and sound through a single device. It analyses the environment and any motion or sound to identify and alert you to threats through instant notifications. Installation takes seconds and the app is easy to use for the whole family. Through the use of machine-learning the sound recognition is continuously improved by the Minut community, making the system even better over time. To preserve privacy, the design is camera-free and the data processing runs on-device, so no sound ever has to be recorded.”
“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, without having to compromise the feeling of home.”
Also check out our recent podcast interview with Mattison here.