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LONDON, UK - December 07, 2015
Cocoon, the smart home company changing the way we all secure our homes with an all-in-one security device that covers the whole home, today announced the completion of $3M in funding to rapidly expand their team and vision of enabling everyone to effortlessly protect the people and places they care about most. The round was led by Aviva Ventures, Breed Reply Investments, along with significant investment from their early stage investors and founding team.
“We believe that home security should be effortless, and that protecting the most important place in every person’s life should not only provide peace of mind but also a great experience. Aviva Ventures and Breed Reply are helping us realise our vision of making homes safer with technology that does all the hard work for you” said Co-founder Sanjay Parekh. “The investment allows us to deliver on the first stage of our operational plan. It allows us to aggressively expand our engineering and marketing team, providing us with sufficient capital to ensure that we launch successfully in the first half of 2016.”
Ben Luckett, Managing Director of Aviva Ventures said “Aviva Ventures aims to invest in the best new technology and digital businesses around. So it's highly appropriate that our first investment is with Cocoon - an exciting new business which combines a unique product, pioneering technology and a strong management team in a home security sector which is set for significant growth.”.
The investment adds to the first round from Breed Reply and the support that the Indiegogo backers have shown throughout the process of bringing Cocoon to life.
“At Breed Reply we are very pleased with the progress the company has achieved so far and we are also delighted to welcome a company of Aviva’s stature to this exciting opportunity. We have been working with Cocoon since February 2015 and believe this additional investment will spur them to disrupt the home security market” said Emanuele Angelidis, CEO of Breed Reply.
Cocoon is reimagining how home security works, making the technology fit around the needs of their customers.