France’s Netatmo Raises $5.8M To Extend The Reach Of Its Connected Weather Station
Posted in: Today's Chili
Paris-based Internet of Things startup Netatmo, which makes personal weather station and air quality sensor devices (as seen in the video above) for use with Android and iOS apps, has just closed a €4.5 million ($5.8 million) funding round. It plans to use the funding to launch new connected devices in the second half of this year, including additional indoor air modules (to be announced this month), and also rain and wind meters.
Investors in the round — Netatmo’s first external funding — include Iris Capital, FSN PME, which is the French National Fund for Digital Society, along with Pascal Cagni, Non Executive Director of Vivendi SA and Kingfisher PLC and former Vice-President & General Manager of Apple Europe, Middle East, India and Africa.
Netatmo launched its consumer focused weather station monitoring device last fall. The device allows users to track outdoor weather conditions and environmental conditions indoors — such as air quality and CO2 level — and monitor and chart that data via the corresponding apps.
Although Netatmo is not breaking out device sales data yet, it says its weather stations are currently monitoring the environment in more than 105 countries. ”After a few months on the market, demand continues to grow, and we are experiencing significant increases in sales,” Netatmo CEO Fred Potter noted in a statement. ”Our new financial partners will allow us to pursue further innovations, develop new devices and expand our distribution channels and territories,”
Netatmo said it plans to focus on development and operations throughout Europe, Asia and the U.S., with the goal to expand its headcount as it ramps up the business this year.
Commenting on the funding in a statement, Pascal Cagni added: ”The Internet of Things is the next step in the rise of an even more connected digital world… Thanks to Netatmo’s talented teams and ability to integrate advanced software with state-of-the-art hardware, this company is built to play a leading role in that revolution.”
