According to the Business Insider report, Google’s Nest division wants its next move into home security and is planning to acquire a WiFi camera maker, Dropcam. This acquisition will help in accelerating the Google’s Nest growth. But details and amount of the deal is still undisclosed.
Google has acquired US based Nest labs, the maker of smart thermostats and smoke alarms for an amount of USD 3.2 billion, in January this year.
DropCam was founded in 2009 by COO Aamir Virani and CEO Greg Duffy. It is an easy-to-use Hi-definition Wi-Fi Video camera with alerts and cloud-based recording. The company provides the way people get connected to the places and a two way video that connects via speakers & built-in microphone. Dropcam cameras cost start at USD 150 with best model cost USD 199.
Recently, Dropcam has updated its iOS app with two new features: location based control and time scheduling. In 2012, It has also launched an iPad app to watch the world in Split-Screen. Along with these apps, the company has announced a feature in which its camera can detect people moving in user’s home. The cloud-powered software then sends an alert message to the user’s email account or smartphone app.
“The company was able to teach its software the difference between people and other objects by analyzing the feeds of people who publicly broadcast their Dropcam feeds,” said Greg Duffy.
Till date, the company has secured a total funding of USD 47.80 million including four rounds of investment viz. Series A (USD 5.80 M, Sept.2011 ), series B (USD 12M, June 2012 ), series C (USD 30M, July 2013 ) and an unknown amount in seed investment.
To contact the author, email at email@example.comCategory Business Investments