Swedish home security company Minut (HAX 05) has raised an $8M Series A round led by KPN Ventures and Centrica, bringing the company’s total funding to $10M. Supporting the round were existing investors SOSV, Karma Ventures, and Nordic Makers.
Minut specializes in camera-less home security technology that detects and processes threats on the device itself instead of sharing data to the cloud. This approach supports Minut’s central mission to protect users’ privacy while keeping them safe. Using sensors, including microphones and infrared motion detectors, Minut extracts data in real time to analyze events, like a broken window, on the device with a local neural network.
So far, Minut has expanded its reach to 60 countries with more than 10,000 units. According to Minut’s CEO Nils Mattisson, the company will use the series A funds to fortify its product portfolio and speed up its growth across markets.
“Feeling safe shouldn’t be a luxury, or come at the cost of privacy,” Mattisson told TechCrunch. “Until recently, the most affordable solution for home security and monitoring has been Wi-Fi-connected cameras, but people don’t want or trust them in their homes.”
He continued, “This approach is technically much more challenging than recording sounds and sending them to a back-end for analysis like an Amazon Alexa or Google Assistant, but it enables us to identify events, such as a window-break or the presence of people, without ever actually recording any sound.”