Minut receives fresh funding and a new investor - Karma VC.
Minut, a Malmö, Sweden-based company manufacturing an alarm system for residences, announced closing a $2.5M investment round. The money comes from investors including Nordic Makers, SOSV and Karma VC.
Minut, founded in 2014 by CEO Nils Mattisson, Fredrik Ahlberg, Martin Lööf and Marcus Ljungblad, developed a security product, Point, that aims to provide security without surveillance.
Technically, Point is a monitoring device equipped with a processor, microphone, motion detector and sensors that measure air pressure, temperature and other environmental data. The surveillance is linked to an app on the mobile - the tech applies machine learning to sound and environmental data in real time, allowing it to identify events in its surroundings.
Minut launched its product on Kickstarter at the end of 2014 and pledged $240k, almost 5x its original goal. The product was ready at the end of 2016 and shipped to more than 500 customers since then.
Prior to this seed investment, Minut raised pre-seed funding from angel investors based in the Nordics and California, including Tord Wingren, Hampus Jakobsson, Don Lindsey and Anders Frankel and from early stage funds Nordic Makers and SOSv.