Smart home gadget startup raises over $150 million in funding

It may not seem like smart home gadgets are a big industry, but they are. Consider the fact that one startup in the industry, called Nest, has managed to raise over $150 million in funding. This puts the future valuation of the startup somewhere between $2 billion and $3 billion.

How much money is there in smart thermostats and smoke alarms? Try more than $2 billion. Nest, the smart home gadget startup, is reportedly in the midst of raising a huge round of funding — between $150 million and $200 million – reports Re/Code (the site founded by the AllThingsD team). That range puts Nest’s future valuation somewhere between $2 billion and $3 billion, sources say. While it sounds like investors are still actively trying to get in on the new round, sources tell Re/Code that Yuri Milner’s DST Global investment firm has scored the leading role.

Leave a comment

Your email address will not be published. Required fields are marked *