You can now feel safe for just €149 and to preserve the right to privacy. Startup Minutes came up with a smart alarm system that guards the house without the installation of surveillance cameras. This year the project has become a favorite of venture capital: KPN Ventures invested $8 million in What he’s interested in investors?
Mattisson Niels (Nils Mattisson) is very concise, but the star summary. During his studies at Lund University he worked as an engineer in Ericsson. After defending his thesis in electrical engineering he moved to Sunny California. Mattison was in a dream company — Apple. For seven years he worked in the research group of design, but in 2013, picked up start the rush. Nils returned to Sweden in 2014 has launched its own project — Minutes. Together with fellow students Martin Löf (Martin Lööf) and Fredrik Arlberg (Fredrik Ahlberg) a former Apple engineer has developed a smart alarm system for home. (The fourth co-founder Marcus Engblom (Marcus Ljungblad) Niels met through an early investor).
In 2014, the startup got into an accelerator HAX in Shenzhen. There team Minutes created the first prototypes of the device and got the necessary manufacturing contacts. The search for investment has led the Swedish company on Kickstarter. Then, the project has managed to raise $238 366. In December 2017 Minutes did the second run: summary — $312 061. This money, plus angel investments of €300 thousand and a grant of €71,4 thousand helped bring the product to market. In 2019 Minutes became favorites of venture capital: the company raised $8 million series A. the Round was led by KPN Ventures. Since inception, the startup has raised over $10 million Than he was interested in investors?
All in one device
The need to install multiple cameras throughout the apartment and use the three apps — it is long, tedious and expensive. Minutes the founders decided to go another way. Their smart wireless alarm is a small compact device. It is easily mounted on the ceiling using magnetic plate — installation takes 5 min.
The device is cheaper than the competition Verisure, Vivint and ADT: only €149. But the key “trick” the alarm is not price. Startup Minutes refused from traditional cameras and instead has developed a universal sensor. He can do everything or almost everything — captures traffic, analyzes the sound level temperature and humidity (maybe even to prevent the occurrence of mold).
“Minutes — one of the first companies that uses machine learning on the edge of the network. Technically, this approach is much more difficult than recording sounds and sending them to the server for analysis (work Amazon Alexa or Google Assistant), but it allows us to identify events such as a broken window or the presence of people, without having to record every sound,” says co-founder of the Niels Mattisson.
All data is processed in real time on the device and not uploaded to the cloud. If there is something unusual, Minutes to the user sends instant alerts via mobile app.
Your alarm Minutes produces in Shenzhen, and sells in 60 countries. According to TechCrunch, the startup has sold a total of more than 10,000 alarms all over the world. Now his offices in Malmo, Stockholm and London.
“Minutes focuses on the markets of Sweden, great Britain and the United States — adds Mattison. — However, we see great potential in the Russian market and we intend to further explore it.”
In the long term, to increase sales, he plans to combine its product with a telecommunications or utility services. Alarm Minutes Alarm Smart Home can be purchased together, for example, by subscription on the Internet.
“Product will be included in the package are the same as now for a small monthly fee, the kits included the router or TV box. It has become commonplace in the U.S. market, and we see that same type of packing works in Europe”, concludes the entrepreneur.
Author: Olga Grinevich
Photos courtesy Minutes
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