Sevenhugs has raised an additional $9 million from Xerys Capital to enhance the development of its smart home solutions in the U.S. and globally.
Information on the Target
Sevenhugs is a pioneering company that has gained recognition for its innovative smart home solutions. Following a series of successful funding rounds totaling $25.3 million, including contributions from Xerys Capital, CapDecisif Management, and various business angels, Sevenhugs has recently secured an additional $9 million from Xerys Capital. This funding is aimed at further advancing and distributing their cutting-edge smart home technologies in the U.S. and international markets.
In 2018, Sevenhugs launched the first ever remote control equipped with a precise indoor positioning system, leveraging Ultra-Wide Band (UWB) technology. Their flagship product, the Smart Remote, enhances the user experience by providing intuitive and contextual control over numerous devices and services in the digital home.
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Industry Overview in the Target’s Specific Country
The smart home industry in the United States is experiencing substantial growth, driven by advancements in technology and increased consumer demand for connected devi
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in 2018
in a Series A deal
Disclosed details
Transaction Size: $9M