Security tech startup Boundary has landed £1.22 million investment from Equity Gap and the Scottish Investment Bank to develop its smart home security alarm.

The investment, led by the investment arm of Scotland’s national economic development agency Scottish Enterprise, will create several new jobs and prepare its smart home security alarm for launch.

Similar to smart home systems such as Hive central heating or Sonos music control, Boundary’s technology enables users to control home security via using an app or digital assistants such as Amazon’s Alexa and Google Home, with alerts if an intruder is detected.

Boundary’s technology integrates with the Philips Hue lighting system, so that lights are switched on automatically if an intruder is detected. It has also developed alternatives to the smartphone app include a traditional alarm code or a key fob.

The company plans to launch its smart home intruder alarm in 2020 and says it will aim to target 100,000 homes in four years, with a forecasted £6 million in annual recurring revenues.

The company is the brainchild of Robin Knox and Paul Walton, the entrepreneurs behind IntelligentPOS, an electronic point of sale device firm was acquired by iZettle in 2016 and subsequently sold to PayPal for £1.6 billion.

Boundary said it intends to use the investment to open up several highly skilled new jobs in software development, customer support and marketing within its headquarters, which will be located within the new WeWork offices in Edinburgh.

Knox, co-founder and chief executive of Boundary, said: “We are always eager to support Scotland’s thriving tech scene and this cash injection will enable us to do just that by creating numerous tech roles in Edinburgh.

“We fully believe that our accessible, affordable smart home alarm will make waves within the UK’s home security market.”

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