Future Home closes €1,25 million funding round as a continuum of their successful Indiegogo campaign

    By
    arcticstartupstaff
    -

    Future Home is on a mission to change the way people interact with their homes.

    We wrote last Autumn about smart home startup Future Home’s crowdfunding campaign that resulted in gathering $200 000 through Indiegogo. Now the Stavanger based green company announces closing €1 250 000 funding round that got support from local investors in the oil country.

    Future Home enables controlling of all different electronics of one’s home such as security, lighting, shading and power consumption through an easy-to-use application. Sigbjørn Groven, the CFO and Co-founder of Future Home, is thrilled that the environmentally friendly solution has received more support from its home country as the lead investor in their recent funding round was Ståle Kyllingstad from IKM Invest. This shows that the movement towards the eco-conscious mindset is raising also among investors previously concentrated in the oil business, says Groven:

    “Future Home is located in the oil capital of Europe, so it is nice to see a change from oil to other industries as the city is highly affected by the oil price drop. The green wave is coming.”

    The recently closed funding round got also support from incubator iPark, Christian Rokseth (Pixavi) and Ålgård Holding as well as internal investments from the founders and employees of the company.

    Towards transforming the smart home market?

    As the demand for Future Home was extremely high after the crowdfunding campaign, the investment will be used on scaling up the operations of the company. Groven tells that while making smart homes more user-friendly, they’ll also concentrate now on changing the way how the services are delivered through a cloud based smart home portal which will be launched in September.

    “The portal will integrate the customers order with the app on their phone, making it dirt cheap and easier to install smart homes. This will revolutionize the smart home market and bring us closer to our vision of offering smart homes to everybody,” says Groven and states that they believe that the portal is going to do the same for the smart home industry what online booking did to the travel business.

    “Going forward we are also adding support to a whole range of new devices from different producers increasing the possibilities,” Groven continues.

    As the new portal will be launched, Future Home continues to concentrate on the Norwegian market with a plan to expand in the Nordics as fast as possible – And the ongoing cooperation with Swedish service solutions provider Bravida will likely include the rest of Scandinavia in the future, hopes Groven.