IoT Incubator Breed Reply Backs Smart Home Security Device Cocoon
Breed Reply has announced that it has backed three new startups in the smart home, health and energy sectors: Cocoon, the UK smart home security startup; BrainControl, an Italian startup that has developed an assistive technology to let disabled people control a computer with brainwaves; and Netherland’s Greeniant, which provides analytics for smart meters.
The equity Reply has taken in each respective startup is said to be between 20 and 70%. This also leaves the founders of whichever of the three startups sold a majority stake to Reply as minority shareholders.
Cocoon had already hit it’s Indiegogo crowd-funding target by raising over $215,000. The smart home security device uses infrasonic sound waves which are undetectable to the human ear, combined with machine learning, claiming to be able to monitor an entire home. This includes detecting intruders through closed doors and in rooms in the home other than the one where the Cocoon is situated.
The hardware for this is extremely costly to produce, while the step up from software alone to producing physical goods is sometimes a step too far for a startup, so it is not surprising to see Cocoon lean on the expertise and resources of Reply.
Reply will provide a twelve month program including office space, support with strategy and business development, technology, PR and future fund raising to Cocoon.