Founded in 2011, Netatmo designs stylish connected-home hardware such as a Philippe Stark–designed thermostat, the Welcome security camera, and an initial personal weather and air-quality station. The company says it leads in several European countries, including France, Spain, Portugal and Germany. Netatmo plans to add more features to existing devices and develop additional products over time while focusing on differentiation in a crowded market. The new funding will be used mainly for R&D in France, plus hiring across markets and increased sales and marketing investment. Netatmo’s founders remain majority shareholders. The company declined to disclose valuation or hard revenue/unit figures, but says both revenues and unit sales are doubling annually. Netatmo produces personal weather-station devices and indoor air-quality modules that let users monitor outdoor weather and indoor environmental conditions (including CO2 levels) via mobile apps. The company launched its consumer weather station in the fall prior to this article and says its devices are currently monitoring environments in more than 105 countries. Netatmo reports growing demand and “significant increases in sales” since launch. It plans to use new funding to develop additional connected devices — including more indoor air modules (to be announced this month) and rain and wind meters — and to introduce products in the second half of the year. The company intends to expand distribution channels and territories and to grow headcount as it ramps up operations. Netatmo is focusing development and operations across Europe, Asia and the U.S.

Total raised

$39M

Funding rounds

2

Latest round

Equity

Latest activity

Nov 2015