Canada-based smart thermostat developer Ecobee completed a $35m funding round backed by e-commerce company Amazon’s Alexa Fund yesterday.
Alexa Fund, formed to fund technology compatible with Amazon’s Alexa cloud-based voice service, was joined in the round by investment management firm Thomvest Asset Management and venture capital firm Relay Ventures.
Founded in 2007, Ecobee produces wifi-connected thermostats with room sensors, and its latest model, the Ecobee3, is directly compatible with Amazon’s hands-free Echo speaker, meaning room temperature can be controlled by a user’s voice.
Steve Rabuchin, vice president of Amazon Alexa, said: “This funding round marks our largest single Alexa Fund investment to date and builds on our existing relationship with Ecobee, who was instrumental in helping us build the Alexa Smart Home Skill API.
“We have been impressed with Ecobee’s innovative smart home technologies and their ability to improve the everyday lives of homeowners. We are excited to see what the future holds for this growing company and the new voice experiences they’ll bring to Amazon Alexa customers.”
Ecobee has now raised more than $51m altogether, according to VC database CrunchBase. It disclosed $6.7m in financing from Ontario Emerging Technologies Fund, JLA Ventures and Tech Capital Partners in 2010.
Gas and electricity retailer Just Energy paid an undisclosed amount for a 15% stake in the company in 2012, before air conditioning and temperature control equipment producer Carrier invested an undisclosed sum in January 2015 as part of a strategic collaboration agreement.