Malmö-based Minut produces a wireless smart home alarm that monitors your home without the use of invasive cameras. The startup instead uses motion-detection, temperature and humidity tracking, and noise monitoring to send you instant mobile alerts if anything out of the ordinary happens in your home.
The startup has just raised €7.2 million in Series A funding led by KPN Ventures, bringing the total amount raised to over €9 million. Centrica also joined as a new investor in the round, alongside previous backers including Karma Ventures, SOSV, and Nordic Makers.
Founded in 2014, Minut has already sold devices in more than 60 countries with a growing team and new office based in London. The device can be installed in just five minutes, and purchased for only €149 – making it popular with the younger generation of renters.
“We have created the first complete smart alarm to keep your home safe and sound through a single device,” said CEO Nils Mattisson. “It analyzes 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.”
“We’re excited to have seasoned investors KPN Ventures and Centrica join us in Minut,” said Tommi Uhari, Founding Partner at Karma Ventures and chairman of Minut. “Their investment validates the innovative and unique product developed by the team at Minut and shows how it’s relevant for partners in several industry verticals. We look forward to deepening our collaboration on the board in the future.”
“With their innovative ‘Point’ device, The Minut team has executed on the vision to make home security smart, simple and accessible for everybody,” said Herman Kienhuis, Director of KPN Ventures.
“We first came across Minut as part of our Active Ageing startup challenge and have been really impressed to see how their product has continued to develop over the past year,” said Marc Sabas, Venture Principal for Centrica Innovations. “As a global leader in providing cutting-edge connected home products and services, we look forward to working in partnership with the team to explore further opportunities to deliver products that offer greater choice, control, and comfort over our customers’ homes.”