Crowdfunding hits in this space have included intelligent coolers and customizable smartwatches. However this Techcrunch report seems to indicate that the institutional money is heading into the home automation and security space. Insurance must only be a step behind.
“The largest informing factor for me investing in this space is the overall belief that this is where the future of life is going,” says Nick Wyman of Galvanize Ventures. “It’s going to be centered around capturing data and around home awareness and intelligence.” Galvanize backed connected device startup Keen Home last week in a round that included strategic investors American Family Insurance and communications company Comporium. Keen’s first product is a smart vent that allows home owners to control the temperature in each room of a house to reduce energy use and cut down on heating costs. “It’s not just investing in what the market is right now, but creating new markets,” says Wyman, whose previous investments include indoor home gardening startup Grove Labs and craft beer brewing kit BrewBot.