Smart home startup Igloohome raises US$1.25mil

  • Igloohome helps Airbnb hosts with check-ins and saving energy
  • Available in Australia, Thailand, and Singapore, plans to roll out in US in 2016
Smart home startup Igloohome raises US$1.25mil
 
SINGAPORE-founded smart home automation startup Igloohome announced it had secured seed funding of US$1.25 million, led by Wavemaker Partners with participation from Singtel Innov8, Mesh Ventures and DreamIt Ventures.
 
The funding will allow it to accelerate the commercialisation of its smart home solution which is specially designed for Airbnb hosts and rental property managers, the company said in a statement.
 
“Our target is to become the best companion app for Airbnb hosts – to be the future of hosting,” said cofounder and chief executive officer Anthony Chow.
 
“We lower the barriers so anyone can list their spare rooms or properties on Airbnb to earn extra income without much inconvenience or a large time investment,” he added.
 
Igloohome addresses two key areas of concern for Airbnb hosts:
 
  • The inconvenience of the check-in process, such as guests losing keys or arriving at odd hours; and
  • The high energy costs as a result of unnecessary energy usage, such as when guests forget to turn off air-conditioners before going out.
To make the check-in process seamless, Igloohome’s solution integrates with Airbnb and pairs with an electronic lock to automatically text and email guests with a PIN (personal identification number) code to enter the property.
 
When guests check out, the PIN code is automatically deactivated, giving the host peace of mind, Igloohome said.
 
Its energy saving product, Igloosense, also helps hosts save energy costs by up to 30% by recognising when guests are not in and automatically shutting off the air-conditioning.
 
“Igloohome is one of the rare startups we have seen that is able to deliver significant value immediately to its target market, and scale rapidly with the right support,” said Wavemaker partner Dennis Goh.
 
“In addition, the founding team has clearly displayed a tremendous ability to execute and go to market,” he added.
 
Igloohome is now available for Airbnb hosts and property managers in Australia, Thailand, and Singapore, with plans to roll out in the United States in 2016.
 
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