BOUNDARY, the home security tech specialist, has raised £1.2 million of investment to help prepare for its commercial launch next year.
The Edinburgh-based firm, set up by entrepreneurs Robin Knox and Paul Walton, will use the backing from Equity Gap and the Scottish Investment Bank to create “several” jobs in software development, customer support and marketing, and finalise the product’s development.
The home security device being developed by Boundary will be controlled by users via an app on their mobile phone, in a way similar to how Hive central heating controls and Sonos music systems are operated. Homeowners will be alerted about intruders even if their phone lines and broadband connections are cut through an optional cellular backup linked to the mobile phone network.
Mr Knox and Mr Walton set up the firm after creating and selling IntelligentPOS to iZettle in 2016. It was then sold to PayPal for £1.6 billion.
Mr Knox said: “We are absolutely delighted to have received funding support from Equity Gap and the Scottish Investment Bank. This has come at a crucial time as we move towards our official launch next year. “We are always eager to support Scotland’s thriving tech scene and this cash injection will enable us to do just that by creating numerous tech roles in Edinburgh. We fully believe that our accessible, affordable smart home alarm will make waves within the UK’s home security market.”
The investment round comes after Boundary raised £50,000 target on Kickstarter in less than 48 hours. The cash is being used to certify the product to British and European standards.
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