Former SSE boss Ian Marchant invests in London smart home startup
A London-based smart home technology startup, backed by the former chief of SSE Ian Marchant, today announced that it has raised £2m in a new funding round.
Den, which has now raised a total of £5m, is also backed by Mark Davies, a founder of Betfair.
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Den’s devices can be controlled and monitored using a smartphone app and can be used in conjunction with voice assistants such as Amazon’s Alexa.
The technology allows users to track which appliances are consuming the most energy and be alerted to potential safety concerns.
“Den is providing a simple and elegant solution to bring our existing housing stock into the 21st century, allowing everyone to benefit from the advantages of the smart home revolution,” said Marchant.
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The company has also announced the launch of a new range of high tech light switches and sockets.
It hopes to capitalise on the growing demand for smart home technology. A recent report from PwC found that consumers will spend £10.8bn on smart home products this year and that 40 per cent of device owners intend to upgrade their devices within two years.