Singapore’s HOMI SmartHome raises $1.3m round led by SeedPlus

Photo: Vinicius Amano/Unsplash

Singapore-based consumer IoT services company HOMI SmartHome has raised $1.3 million in a seed round led by SeedPlus, Xoogler Angels, and AngelCentral, according to an announcement.

The fresh funding will be used to scale up the services side of the business in Asia, the company said in the statement.

After receiving initial funding, the startup set out to create a set of devices that could be installed by a certified electrician in an Asian home in three hours or less.

This would mean consumers would be able to dim their lights, turn on their air-conditioning before they get home, and have keyless access, among other features.

HOMI SmartHome, which was founded in 2017 by Amar Dhillon, is planning to launch its smart home products through affordable payment plans in the next quarter.

SeedPlus is a Singapore-based venture capital firm that invests in emerging businesses across Asia, leading pre-series A rounds. The firm is supported by Jungle Ventures, and counts Cisco, IFC, SGInnovate, Accel Partners, RNT Associates and Eight Roads as investors.

Xoogler Angels is a business angel network gathering of current and former Google executives based in Southeast Asia.

Most recently, Singapore-based smart access solutions startup igloohome has raised $15 million in its Series B funding round co-led by existing investors Insignia Ventures Partners, Wavemaker Partners, and SEEDS Capital.

The round was joined by Kickstart Ventures, TH Capital, Pine Venture Partners, On Asset Management, Innoven Capital, Singtel Innov8, and Great Noble International.