Cocoon has just closed a $3m seed investment from Aviva Ventures and Breed Reply Investments.
Cocoon is a smart home security company which protects the whole home from one device, without the need for additional sensors, using Subsound™ technology to detect subtle sounds and vibrations from activity in any room, on any floor.
The new investment adds to the earlier investment of $1.3m from Breed Reply Investments which came just after Cocoon’s successful Indiegogo campaign in December 2014.
“This significant investment will help us deliver our innovative Subsound™ technology and the first stage of our operational plan, complementing the support our Indiegogo backers have shown throughout the process of bringing Cocoon to life,” said Cocoon co-founder Sanjay Parekh.
“We’re already putting the funding to good use, aggressively expanding our engineering teams, marketing plan, and ensuring that we have sufficient capital to launch successfully in the first half of 2016.”
Ben Luckett, managing director at Aviva Ventures, said: “Aviva Ventures aims to invest in the best new technology and digital businesses around, so it’s highly appropriate that our first investment is with Cocoon.
“It is an exciting new business which combines a unique product, pioneering technology and a strong management team in a home security sector which is set for significant growth.”