Dublin And Berlin-Based Startup Smartfrog Raises €20 Million
A step ahead in right direction !
Smartfrog, an IoT startup scored more funds
Smartfrog, Internet of Things (IoT) startup based in Dublin and Berlin has just raised funding of a whopping €20 million. Their new funding is broke down into two parts that is €15 million for equity and €5 million for debt financing. Various unnamed family offices along with existing investors, e.Ventures and Target Global participated in this funding. Co-founder of industrial IoT chipmaker, Jean-Pierre Wyss also took part as strategic investor onboard.
Its recent arrangement with Amazon
Many strategic investors and partners are interested in the startup. Also, very recently it had also signed an agreement with e-commerce giant, Amazon so that it can offer internet-connected cam and cloud service for monthly subscription. It also had similar engagement with Otto, German retailer with addition other deals with numerous utilities and consumer electronics distribution companies.
What does the company do ?
The company provides cam and app/cloud service allows user to avail home surveillance as smart home setup. A cost free version of this service is offered which will turn your unused smartphones into smart security camera. Smartfrog hasn’t launched its hardware device yet but one can purchase Smartfrog’s cam and gain the access to free cloud recording or the option to pay a monthly fee for more cloud storage and a longer surveillance history.
The company has built whole IoT/smart home software; hardware and cloud stack which will help one to enter new verticals, like elderly and health care,with the help of other types of smart sensors. Moreover the company claims to have its customers in 130 countries, and has increased its staff to 60 who are from 22 various nationalities.
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