US-based smart home company Leeo emerged from stealth on Wednesday, revealing at the same time that it has raised $37m in funding from investors including energy company E.ON.
Founded in 2013, Leeo’s other investors include venture capital firm Formation 8, which is backed by several Asian corporates, investment firm Visionnaire Ventures and private investors Max Levchin, the chairman of Yelp, and PayPal co-founder Scott Banister.
Leeo states its aim is to create and enable smart home products and services that are simple to use and accessible to all” and although it has not specifically announced the details of its product, it stated that its first plug-and-play product is set to be released in the next few months.
“The next great evolution of the internet will be driven by smart devices producing incomprehensible amounts of data, in real time,” said Leeo chief executive Adam Gettings.
“This real-time data will allow for dramatic innovation and efficiency gains. At Leeo, we’re building the best team in the world to take on this opportunity.”
Leeo was founded by RoboteX co-founder Adam Gettings and venture investor Eddy Chan.