Edinburgh home security start-up raises £1.22m
Edinburgh-based IoT home security firm Boundary has secured £1.2 in investment.
Founded by Robin Knox and Paul Walton in 2018, the pair were previously behind Intelligent OS, which was acquired by Swedish firm iZettle in 2016.
The latest investment follows a £1m investment in the firm by its founders in May of last year.
The firm said it will use the new funding to create jobs in software development, customer support and marketing at its Edinburgh headquarters.
It will also help to ensure that its technology is ready for commercial launch in 2020.
The funding comes from Scottish angel firm Equity Gap and the Scottish Investment.
It follows a recent crowdfunding campaign on Kickstarter in which the firm reached a £50,000 target in under 48 hours.
Its technology allows customers to control its technology using an app, or voice assistant and can be integrated with the Philips Hue ‘smart’ lighting system.
The business also offers alternatives to the smartphone or digital controls, such as a traditional alarm code or a key fob, as well as additional services including a monthly subscription featuring 24-hour monitoring with police response.
Knox, co-founder and CEO of Boundary, said: “We are always eager to support Scotland’s thriving tech scene and this cash injection will enable us to do just that by creating numerous tech roles in Edinburgh. We fully believe that our accessible, affordable smart home alarm will make waves within the UK’s home security market.”
He continued: “We were immensely pleased with the success of our Kickstarter campaign back in June. The support we received gave us the validation we were looking for that our product is something that people want and need.”
Fraser Lusty, director at Equity Gap, said: “We have known Robin and Paul for some time and of their previous successes. They have developed a consumer focused, digitally smart next generation security system and business model for a market ripe for disruption.
“Their customer acquisition, and service, skills are a big factor in our involvement and we look forward to working with the team through the launch phase.”