We’re excited to announce that we’ve just closed a $3M seed investment from Aviva Ventures (LON:AV), Breed Reply Investments (BIT:REY) and our early stage investors. This adds to the earlier investment from Breed Reply Investments of $1.3M which came just after Cocoon’s successful Indiegogo campaign in December 2014, supporting our vision of enabling people to seamlessly protect the most important place in their life.
“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 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.”
Emanuele Angelidis, CEO of Breed Reply, said: “At Breed Reply we are very pleased with the progress the company has achieved so far and we are also delighted to welcome a company of Aviva’s stature to this exciting opportunity. We have been working with Cocoon since February 2015 and believe this additional investment will spur them to disrupt the home security market.”
We believe that home security should be effortless, and that protecting the most import place in every person’s life should not only provide peace of mind but also a great experience. Our vision of enabling everyone to protect the people and places they care about most, takes a big step forward today.
Over the past year Cocoon’s team has more than tripled in size and we’re still growing, with positions available for smart, dedicated people who want to build and bring something incredible to market. We have big plans for Cocoon in 2016. Be part of it.
– Team Cocoon.
Cocoon is a UK-based smart home company changing the way we all secure our homes. Cocoon protects your 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 in your home.
Cocoon’s first product is a complete security system in a single device, enabling everyone to effortlessly protect the people and places they care about most. For more information visit our website or follow us on Twitter.