Internet Of Things Company SmartThings Raises $12.5 Million
SmartThings is a startup that focuses on the “Internet of Things” that has raised $12.5 million in Series A funding. Founded in April 2012, SmartThings offers an open platform for the Internet of Things, which is a description of every-day electronics that can controlled through your smartphone. This could include smoke alarms, lights, thermostats, refrigerators, etc.
Around 3,000 investors have used SmartThings’ technology to create devices. SmartThing provides a cloud-based infrastructure for developers. SmartThings charges about $200 per kit.
Eventually SmartThings wants to launch an App Store for the Internet of Things category.