IoT Home Automation startup gets $4.9M in new funding

Home automation startup Dwelo raised $ 4.9M in venture funding led by Peterson Ventures. The startup’s total equity funding to date has reached $ 9.7M.

Dwelo Smart Hub

The system consists of a Dwelo app and smart hub hardware that building owners can install. Smart locks, lights, and thermostats from different vendors can directly integrate into Dwelo hub. The hub, having eight ports is a small computer which is a little larger than a deck of cards. Having integrated to the hub, connected devices can then be controlled via Dwelo’s smartphone app.

“We’ve seen explosive demand for what we’ve brought to the market and are thrilled to provide renters as well as the operators of the rental real estate with access to the benefits of smart home technology.” Dwelo CEO Michael Rovito

Its primary target market is apartment building owners and property managers. Renters are provided Dwelo app that they can use for ongoing support.

Dwelo Android App

According to McKinsey, the number of connected homes in the US reached 29M in 2017. Yet, the ‘smart home’ is still far from the vision of seamlessly connected homes. This is where Dwelo seeks to gain a strong foothold in the market. It aims to simplify the end-user experience by providing a single interface that customers can use to access their home automation devices and gadgets.

Home automation startups continue to bank venture funding. Last week it was Brilliant Tech that raised north of $ 20M Series A. Before that, Comcast announced to buy Stringify, a home automation service for IoT products. Thus, acquisitions and new fundings are the ‘new normal’.

With so many startups and services being introduced in the market, it often gets difficult to navigate the home automation ecosystem of products, services, hardware and software. Use the Postscapes IoT Home Guide to quickly narrow the smart home products and systems based on use, price and available integrations.

Postscapes: Tracking the Internet of Things

Industrial IoT startup Elmodis closes $4.9M Series A

Elmodis, a Poland-based industrial IoT startup raised $ 4.9M Series A on April 9, 2017 from Innovation Nest, Intel Capital, and SET Ventures.

Led by CEO Artur Hanc and COO Adam Komarnicki, the company started with seed capital of $ 250,000 in 2015. Its primary target market includes OEMs (Original Equipment Manufacturers) and end-users i.e. plants operating in industries such as manufacturing, mining, energy, and oil & gas.

Elmodis is an integrated hardware and software solution which consists of Elmodis Plug&Play diagnostics device connected directly to electric motors of industrial machines, a dedicated client dashboard integrated with Microsoft Azure IoT cloud, and Elmodis machine-specific algorithms on each device using advanced edge computing technology.

The three key use cases of Elmodis are energy efficiency, predictive maintenance, and asset optimization.

Existing machine-specific IIoT solutions use vibration or temperature sensors to gauge machine-health. Elmodis turned the approach on its head. Instead, it appends a plug & play device directly to the electric motor of a machine eliminating the need to install several sensors and have a specialist who knows where to place them. The hardware component of Elmodis reads motors for problems and improvements, sends the data to the Azure cloud, and provides insights such as risk notifications. It also builds analytical models for diagnostics of connected machines.

Typical business benefits that Elmodis promises for asset-intensive industries are reduction in warranty and repair costs, energy consumption, and prevention of failures arising from incorrect usage. A report by World Economic Forum and Accenture observed that manufacturers using IIoT solutions are “achieving results such as savings on scheduled repairs (12%), reduced maintenance costs (nearly 30%) and fewer breakdowns (almost 70%)”.

The market activity in IIoT space corresponds to these findings. Another industrial IoT startup GoFactory which raised $ 2M was acquired in 2016 by Space‐Time Insight, Inc., a provider of situational intelligence solutions.

Postscapes: Tracking the Internet of Things