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The rapid expansion of Wi-Fi has ushered in the era of connected devices, the Internet of Things (IoT), and the smart home.
From remotely changing the temperature to managing security around your home, almost everything can now be done with your smartphone.
The following startups are making great strides in building comprehensive smart home solutions that save homeowners time, energy, and stress by making tedious tasks easier.
Check out our top picks for the most interesting smart home startups in 2024.
1. SwitchBot
Five-year search growth rate: 4,700%
Search growth: explosive
Founded in: 2015
Location: Shenzhen, China
Funding: $420,000 (Series B)
What they do: SwitchBot is a smart home company that specializes in developing devices that turn traditional home appliances into smart appliances.
The company's products include smart switches, curtain motors, and thermometers, all of which can be controlled using a smartphone or voice assistant.
2. Alenti
Five-year search growth rate: 3,600%
Search growth: explosive
Established: 2020
Location: Hoofddorp, Netherlands
Funding: Undisclosed
What they do: Arenti is a DTC smart security camera startup. They sell 15 core SKUs. The startup also offers an app that allows users to access their cameras remotely. The app has been downloaded over 100,000 times on Google Play Store.
Additionally, the company's devices are compatible with Alexa and Google Home. Arenti's flagship product, an indoor security camera, brings in around $70,000 in monthly sales on Amazon.
3. Goby
Five-year search growth rate: 4.300%
Search growth: peak
Established: 2017
Location: Hong Kong, China
Funding: Undisclosed (Series A)
What they do: Govee is a smart home technology company that specializes in creating affordable, easy-to-use LED lighting solutions and other smart home devices.
The company's products include smart light strips, bulbs, and lamps, as well as thermometers, hygrometers, and other environmental sensors that can be monitored via a mobile app.
4. Euphie
Five-year search growth rate: 900%
Search growth: explosive
Established: 2016
Location: Birmingham, UK
Funding: Undisclosed
What they do: Eufy is a smart home company that develops affordable and useful smart home products.
The company's products range from smart lighting to security cameras to smart doorbells, all designed to make life simpler and more efficient.
5. Innit
Five-year search growth rate: 155%
Search growth status: Average
Founded in: 2013
Location: Redwood City, California
Funding: $43 million (series unknown)
What they do: Calling itself a “smart kitchen platform,” Innit's comprehensive apps and algorithms integrate with everything from home appliances to modern cookbooks with the latest recipes.
Innit's platform powers three consumer experience segments: cooking, dining, and nutrition. Innit partners with retailers to provide shopping experiences and interesting recipes, and also partners with home appliance manufacturers to promote new products to smart appliance customers.
6. Nature
Five-year search growth rate: 33%
Search growth: peak
Established: 2014
Location: Shibuya, Japan
Funding: $5.7 million (non-equity grant)
What they do: Nature is a Japan-based company that is capitalizing on the smart home trend with a service tailored to the Japanese market. Users can set “rules” for their devices, such as turning on the air conditioner throughout the house when a certain temperature is reached, or setting a time for the TV to turn on.
7. Wise Lab
Five-year search growth rate: 165%
Search growth status: Average
Established: 2017
Location: Kirkland, Washington
Funding: $155 million (Series B)
What they do: Wyze Labs is a smart home technology company that offers a range of affordable and innovative home security and automation products.
The company's products include smart cameras, doorbells, sensors and smart plugs, all designed to be easy to use and integrate with popular smart home platforms.
8. Ajax System
Five-year search growth rate: 85%
Search growth status: Average
Established: 2011
Location: Kiev, Ukraine
Funding: $11 million (Series A)
What they do: Ukraine-based Ajax Systems has developed a suite of security and home safety sensors, from traditional security cameras to advanced fire and flood detection.
Customers can choose individual products such as sirens and glass protectors, all of which are deployed around Ajax's central system hub. The startup has a presence in Eastern European countries such as Kazakhstan but is looking to expand across Europe.
9. Awale
Five-year search growth rate: -73%
Search growth: peak
Founded in: 2013
Location: San Francisco, California
Funding: $21.3 million (Series B)
What they do: Awair's business is based around smart air quality detection through its leading home product, Element, which tracks temperature, humidity, CO2 levels, etc. Awair's app works with Element devices to give users a transparent view of the air quality inside their home.
Awair also now offers enterprise options, such as Awair Omni, which helps businesses and educators get a holistic view of noise levels and air quality within their facilities while also helping companies achieve green certification.
10. Plastic
Five-year search growth rate: -2%
Search growth status: Average
Established: 2014
Location: Orem, Utah
Funding: $4.4 million (Seed)
What they do: Pura is a smart home fragrance company that offers the unique Pura Fragrance Diffuser. This product allows users to customize their fragrance and control it all through the Pura app. Users can also set schedules to diffuse specific fragrances throughout their home depending on their mood.
Pura's business model revolves around affordable diffusers and subscription-style refills with fragrances from big-name brands like Disney, Nest, and APOTHEKE.
11. Sense
Five-year search growth rate: 20%
Search growth: explosive
Founded in: 2013
Location: Cambridge, Massachusetts
Funding: $174.6 million (Series C)
What it does: Sense gives customers the ability to monitor all appliances and connected devices throughout their home in 360 degrees. For example, it gives users full control over electricity usage and alerts them to random occurrences like if the garage door suddenly opens or the oven is left on for a dangerously long time.
12. Smart Rent
Five-year search growth rate: 300%
Search growth status: Average
Established: 2016
Location: Scottsdale, Arizona
Funding: $256.5 million (stock after IPO)
What they do: SmartRent is an online platform that connects a community's smart home devices in one place, allowing property owners, managers, and home builders to manage operations from a central hub. Their services include self-guided property tours, remote thermostat control, and parking management. Currently, there are over 500,000 SmartRent units installed and over 535,000 users.
13. Tovala
Five-year search growth rate: 620%
Search growth: peak
Founded in: 2015
Location: Chicago, Illinois
Funding: $68.6 million (Series C)
What they do: Tovala is a smart oven manufacturer that sells self-efficient ovens that cook and steam clean automatically.
Using the Tovala app, users can scan the barcode of their Tovala meal and the oven will automatically adjust settings to cook the meal to perfection.
14. Simplisafe
Five-year search growth rate: -12%
Search growth: peak
Founded: 2006
Location: Boston, Massachusetts
Funding: $387 million (debt financing)
What they do: Traditional alarm systems are cumbersome, outdated and often have slow phone support during a crisis. Simplisafe saw an opportunity to modernize the smart security sector, offering a comprehensive solution with SMS and email support, plus a host of other features.
The company sells its products purely online, rather than through traditional stockbrokers, who have acted as gatekeepers in the past.
15. CLMBR
Five-year search growth rate: 488%
Search growth: peak
Established: 2017
Location: Denver, Colorado
Funding: $26.9 million (series unknown)
What they do: CLMBR is a smart home fitness company that offers innovative vertical climbing machines designed to give users a full-body workout.
The CLMBR machines are equipped with touchscreen displays, allowing users to track their progress and compete against others through a connected app.
Conclusion
These smart home startups aim to turn our homes into digital fortresses that are self-sustaining and can proactively suggest improvements.
A common thread among many of these companies (besides the fact that they are all well-funded) is their focus on energy conservation and energy efficiency: Consumers want smart home devices for convenience, but also to reduce their environmental impact.