Quirky Raises $79 Million In Series D Funding
Quirky is a startup that has raised $79 million in Series D funding from General Electric (GE) along with venture capital firms Andreessen Horowitz, Norwest Venture Partners, RRE Ventures, and Kleiner Perkins Caufield & Byers. General Electric’s participation is an extension of a partnership that Quirky and General Electric made earlier this year. GE put in $30 million into this funding round and has committed to building 30 connected-home gadgets with Quirky over the next five years.
Based in New York, Quirky is known for designing and building consumer products that has been invented by their community. Last week Quirky and General Electric released their first batch of products that they built together. The four products will be for sale at Home Depot and Best Buy. The four products includes a desktop widget, a smart egg tray, a smart power strip, and a motion/sound/light/temperature/humidity sensor.
General Electric is making their patents available for the Quirky products. The patents covers products like holographic lens and fast-focusing technologies and coatings for electronic devices.
General Electric is also opening up their rolodex of suppliers to Quirky. Quirky’s Wink app will be able to connect and link to whatever products are coming next.
Quirky previously raised $68 million in Series C funding led by Andreessen Horowitz. Kleiner Perkins, Norwest Venture Partners and RRE Ventures also participated in that Series C round around a year ago.