Smart Home startup Den raises £2m

London-based smart home startup Den has raised £2 million in a funding round led by investors including Ian Marchant, former chief executive of SSE energy, and Betfair founder Mark Davies.

The latest raise takes the total investment to £5 million since the startup was founded in 2014 by entrepreneur Yasser Khattak, who was then 17.

The company specialises in smart light switches, smart sockets, smart remotes and motion sensors which can be controlled by apps and home hubs such as Amazon Alexa and Google Home.

The technology is aimed at monitoring and controlling electrical equipment, lighting and power usage. Many of its wireless switches resemble traditional switch and light fittings.

The company has also developed smart tags for tracking devices and appliances such as laptops, phones, or high-risk and high-energy items, such as irons and hair-straighteners, which can be automatically switched off if Den users have not responded to notifications or alerts within a certain time frame.

Khattak, Den’s founder and chairman, said: “Conventional light switches and socket outlets have been around for more than 100 years and have barely changed - we’re not the first to build wireless switches, they have been available for more than 20 years - however every single wireless switch in the world today has replaced the switch we’re familiar with for buttons or touch pads that are complicated and hard to use.”

Den said the money will be used in the production of the next range of devices for the home, which will include smart dimmer switches, as well as a range with chromed metal finishes.

Funds will also be used to expand Den’s operations and the team, to enable further product integrations. such as Homekit, and exploration of further app-based integrations.

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