Home automation start-up iGloo to raise $7m and hit US after wowing Microsoft

Yolanda Redrup for Financial Review:  An Australian start-up that has developed an app to enable old household appliances to be upgraded for home automation systems, will expand to the US and raise $7 million after impressing executives at tech giant Microsoft. 

iGloo uses Bluetooth technology to enable home heating systems, lights, blinds and other appliances to be controlled by a mobile app. Its development has been buoyed by support from Microsoft after a local executive saw co-founders Kaye Priest and David Cowie presenting it at the Melbourne Home Show two years ago.

The business is now readying to raise $7 million in capital, $5 million of it from the United States, which it intends to get under way once it has established a US office this month.

"Microsoft invited us to their headquarters in Seattle last year and facilitated a meeting between us and the largest manufacturer of gas fires in the United States," Ms Priest told The Australian Financial Review.  Cont'd...

Comments (0)

This post does not have any comments. Be the first to leave a comment below.


Post A Comment

You must be logged in before you can post a comment. Login now.

Featured Product

Platinum Tools - The New EZ-RJ45® Crimp Tool

Platinum Tools - The New EZ-RJ45® Crimp Tool

Platinum Tools is proud to present the newly patented EXO Crimp Frame® and EZ-RJ45® Die as our new EZ-RJ45 Crimp Tool! Built to terminate the original EZ-RJ45 connectors, which have been a staple in the industry for almost two decades, this crimp tool improves the trim and crimping processes of EZ-RJ45 connectors by using a single cycle crimp and flush trim.