Innovation Arm Of Centrica (Direct Energy Parent) Invests In Smart Home Security Tech Start Up

July 29, 2019

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Reporting by Paul Ring • ring@energychoicematters.com

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Centrica plc has announced an investment into Minut, a Scandinavian tech startup that has developed a smart home alarm that combines wireless sensor technology with machine learning to monitor the home environment.

It also detects any motion or sound within the home and alerts users to threats through instant notifications.

Centrica said that the units are already being sold in 60 countries, with particular success in the rental market where owners are looking for peace of mind for their properties. Centrica said that Minut has sold more than 12,000 units

"The investment has been made by Centrica Innovations, established to invest in innovative technologies and ideas that will transform the way we live, work and move. The team has made more than 11 investments globally in the past two years, making it one of the most active corporate venture capital players in the energy industry," Centrica said

"The investment has been made as part of an $8m Series A funding round with new capital to be used to accelerate growth across markets and to strengthen the product portfolio," Centrica said

Marc Sabas, Venture Principal for Centrica Innovations said, "As a global leader in providing cutting-edge connected home products and services, we look forward to working in partnership with the Minut team to explore further opportunities to deliver products that offer greater choice, control and comfort over our customers’ homes."

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