Cocoon has secured a significant round of seed investment from Breed Reply, the Internet of Things (IoT) focussed corporate venture arm of Milan listed Reply Group (REY.MI). The funding will help us further expand our team and development efforts in the run up to our April 2016 shipment to Indiegogo supporters.
Our investment partner brings with them a range of capabilities to help us overcome the challenges of bringing an innovative device like Cocoon to market. Their backing of Cocoon is a sign of how attractive our new take on home security is.
As many of our early supporters are aware, we are saving all funds raised during our successful Indiegogo campaign for the material production of Cocoon. Activity outside of that has and will continue to be funded separately. Our taking investment from our friends at Breed Reply is further proof of our commitment to our earliest supporters.
We’d also like to take this opportunity to welcome on board some fantastic new additions to our team in Leeds, UK. Mark, Kimberley, John, Rob and Will join the Cocoon founding team at our new HQ – more of that to come in a future update!