Internet Of Things Company SmartThings Raises $12.5 Million

Posted Nov 13, 2013

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.

[Source: Mashable]