New investors include Kickstart Ventures, TH Capital, Pine Venture Partners, On Asset Management, InnoVen Capital and a group of angel investors. Existing investors Singtel Innov8 and Great Noble International also participated in the round.
With a new round of funding, igloohome officially launched its new line iglooworks, which is a suite of smart access solutions for enterprise customers, primarily in the real estate and infrastructure sectors.
iglooworks’ solutions are managed via a dashboard, designed to manage and monitor large numbers of access points for different levels of users, with features to sort, filter and export data.
This is a step towards igloohome’s vision of creating smarter cities – to trace movement, reduce redundancies, and improve productivity.
In addition, iglooworks includes enterprise-grade variations of existing products and a line-up of new products, incorporating new communication protocols such as NB-IoT, Cat-M, LTE, Z-wave and more.
These protocols allow for added online features of access solutions, including multi-factor authentication and real-time access information, while ensuring that battery consumption of the devices remain low. igloohome is currently working with several partners to bring its IoT-connected perimeter security solution to the market.
igloohome has also been accredited by the Infocomm Media Development Authority of Singapore (IMDA) in Singapore for its enterprise-grade security.
“With iglooworks, we have developed a solution that not only can save businesses and governments up to millions of dollars per year, but also improve security and surveillance. Our vision is to create smart access ecosystems for smart cities, increasing efficiency and reducing costs,” igloohome CEO Anthony Chow said.
igloohome currently has over 100 distribution partners, more than 100 integration partners and is working with leading property developers such as Sansiri (Thailand), Mitsubishi (Japan) and Capitaland (Vietnam).
The company has undergone year-on-year growth of 4 times since launching its first product in April 2016. The funding from this round will go into research and development of new products and software for both igloohome and iglooworks, and the support of new and existing distribution partners globally, especially in Europe, the US and Asia Pacific. – VCNewsAsia.com