Den secures £1m through a Seedrs crowdfunding campaign to launch its smart home system.
The smart home startup has raised £1m on Seedrs to bring its connected switches and sockets to market.
£1.0MSeed
Den designs and manufactures intelligent light switches and plug sockets that monitor energy use, improve home safety, and integrate with smart home applications.
Den has secured £1m through a crowdfunding campaign on Seedrs as the business prepares to bring its smart home products to market. The capital will support the commercial launch of its intelligent light switches and plug sockets.
The company has also appointed former Amstrad chief executive Bob Watkins as its new managing director to help scale the enterprise into a global brand.
From the founder
"I am delighted to join Den and build the business into a global Smart Home brand. By creating user-friendly solutions that bring together the largely separated standard non-wireless switching market and the home automation market, Den is on a mission to power millions of homes around the world. The brand potential in a mass-international is limitless and we are delighted to bring a host of new investors into the fold. The plan is to to drive Den towards a £100 million valuation by the end of 2018 in preparation for a successful acquisition by 2020."
BW
Bob Watkins
Managing Director at Den
Use of funds
- 01Accelerate go-to-market
