20 Top Smart Home Startups Impacting The Industry in [2023]

Have you ever wondered who is on the list of Smart Home Companies with the highest growth rates?

You’re not alone.

There are hundreds of Smart Home Companies found there, and keeping track of the hottest new startups can be challenging.

But don’t worry, we’ve got you covered. Here are the top 20 fast-growing Smart Home Startups that have top-tier venture capital funding.

What is Smart Home Startups?

Smart Home Startups is a term used to refer to a new wave of startups that are developing products and services that enable the home to become more efficient, comfortable, secure, and connected. 

These startups are often focused on the emerging Internet of Things (IoT) technology and are creating products and services that allow users to control and monitor their home environment from anywhere with a connected device. Examples of smart home startups include Nest, August, and SmartThings.

Top 20 Fastest-Growing Startups In Smart Home

1) Latch

Latch is a company that specializes in keyless entry security systems that allow you to open and operate all of the doors in your apartment building from your smartphone.

Details of the startup:

• Country: United States
• City: New York
• Started in: 2014
• Founders: Brian Jones, Luke Schoenfelder, Thomas Meyerhoffer
• Number of employees: 251-500
• Funding amount: $152,000,000
• Number of funding rounds: 6
• Number of investors: 28

You can find their website here.

2) Houzz

Houzz is a website that specializes in house renovation, architecture, interior design, decorating, gardening, and other home improvement projects.

Details of the startup:

• Country: United States
• City: Palo Alto
• Started in: 2009
• Founders: Adi Tatarko, Alon Cohen
• Number of employees: 1001-5000
• Funding amount: $613,600,000
• Number of funding rounds: 8
• Number of investors: 22

You can find their website here.

3) SimpliSafe

SimpliSafe is a company that creates, engineers, and sells wireless security alarm systems, cameras, and services for homes.

Details of the startup:

• Country: United States
• City: Boston
• Started in: 2006
• Founders: Chad Laurans, Eleanor Laurans
• Number of employees: 501-1000
• Funding amount: $187,000,000
• Number of funding rounds: 3
• Number of investors: 2

You can find their website here.

4) Sense

For its customers, Sense specializes in designing and delivering tracking devices and home automation systems.

Details of the startup:

• Country: United States
• City: Cambridge-US
• Started in: 2013
• Founders: Christopher Micali, Mike Phillips, Ryan Houlette
• Number of employees: 251-500
• Funding amount: $46,999,998
• Number of funding rounds: 4
• Number of investors: 13

You can find their website here.

5) Wyze Labs

Wyze Labs is a smart home device business with the goal of making smart home technology more accessible to the general public.

Details of the startup:

• Country: United States
• City: Kirkland
• Started in: 2017
• Founders: Dave Crosby, Dongsheng Song, Elana Fishman, Yun Zhang
• Number of employees: 101-250
• Funding amount: $45,000,000
• Number of funding rounds: 4
• Number of investors: 5

You can find their website here.

6) tado°

Tado° provides smart thermostats and apps that adapt to residents’ real-time activity in private homes and small companies.

Details of the startup:

• Country: Germany
• City: Munich
• Started in: 2011
• Founders: Christian Deilmann, Johannes Schwarz, Leopold von Bismarck, Valentin Sawadski
• Number of employees: 101-250
• Funding amount: $157,482,651
• Number of funding rounds: 9
• Number of investors: 15

You can find their website here.

7) Pro.com

Pro.com is a digitally savvy general contractor.

Details of the startup:

• Country: United States
• City: Seattle
• Started in: 2013
• Founders: Dean Falconer, Eric Wilson, Greg Meyer, Gregor Purdy, Matt Williams
• Number of employees: 51-100
• Funding amount: $60,500,000
• Number of funding rounds: 5
• Number of investors: 18

You can find their website here.

8) Openpath

For businesses and landlords, Openpath Security offers a mobile and cloud-based access management system.

Details of the startup:

• Country: United States
• City: Culver City
• Started in: 2016
• Founders: Alex Kazerani, James Segil, Phil Goldsmith, Rob Peters, Samy Kamkar
• Number of employees: 51-100
• Funding amount: $63,000,000
• Number of funding rounds: 4
• Number of investors: 12

You can find their website here.

9) Nanoleaf

Nanoleaf is a technology and IoT business that is revolutionizing the lighting industry with cutting-edge lighting solutions that are smarter by design.

Details of the startup:

• Country: Canada
• City: Toronto
• Started in: 2012
• Founders: Christian Yan, Gimmy Chu, Tom Rodinger
• Number of employees: 101-250
• Funding amount: $5,630,733
• Number of funding rounds: 4
• Number of investors: 3

You can find their website here.

10) Notion

Notion is a smart self-monitoring technology that allows homeowners to take control of their spaces, people, and belongings.

Details of the startup:

• Country: United States
• City: Denver
• Started in: 2013
• Founders: Brett Jurgens, Ryan Margoles
• Number of employees: 11-50
• Funding amount: $15,980,000
• Number of funding rounds: 8
• Number of investors: 36

You can find their website here.

11) Ring

Ring is an outdoor home security company that offers a variety of preventative security doorbells and cameras to homes.

Details of the startup:

• Country: United States
• City: Santa Monica
• Started in: 2012
• Founders: James Siminoff
• Number of employees: 1001-5000
• Funding amount: $203,700,000
• Number of funding rounds: 5
• Number of investors: 23

You can find their website here.

12) Endel

Endel is an audio ecosystem that works across multiple platforms.

Details of the startup:

• Country: Germany
• City: Berlin
• Started in: 2018
• Founders: Oleg Stavitsky
• Number of employees: 1-10
• Funding amount: $7,501,762
• Number of funding rounds: 5
• Number of investors: 13

You can find their website here.

13) Silvan Innovation Labs

Silvan is a technology business that specializes in offering home, office, and hotel automation solutions.

Details of the startup:

• Country: India
• City: Bengaluru
• Started in: 2008
• Founders: Avinash Gautam
• Number of employees: 101-250
• Funding amount: $2,040,863
• Number of funding rounds: 4
• Number of investors: 4

You can find their website here.

14) IKEA

IKEA Systems has a large selection of well-designed and useful home furnishings.

Details of the startup:

• Country: The Netherlands
• City: Delft
• Started in: 1943
• Founders: Ingvar Kamprad
• Number of employees: 10001+

You can find their website here.

15) Design Cafe

Execution + Design A company that creates stunning and unique home interior designs for any budget.

Details of the startup:

• Country: India
• City: Bengaluru
• Started in: 2015
• Founders: Gita Ramanan, Shezan Bhojani
• Number of employees: 501-1000
• Funding amount: $28,522,266
• Number of funding rounds: 2
• Number of investors: 5

You can find their website here.

16) KIWI

For big multi-tenant buildings, KIWI provides safe, keyless access.

Details of the startup:

• Country: Germany
• City: Berlin
• Started in: 2012
• Founders: Christian Bogatu, Claudia Nagel, Peter Dietrich
• Number of employees: 51-100
• Funding amount: € 14,000,000
• Number of funding rounds: 4
• Number of investors: 6

You can find their website here.

17) SwitchBot

With smart home goods, SwitchBot aids in the creation of a comfortable environment.

Details of the startup:

• Country: China
• City: Shenzhen
• Started in: 2015
• Number of employees: 11-50
• Funding amount: CN¥3,000,000
• Number of funding rounds: 1
• Number of investors: 2

You can find their website here.

18) Soapbox Labs

SoapBox Labs’ privacy-first speech recognition software allows kids of different ages, accents, and dialects to have voice-enabled experiences.

Details of the startup:

• Country: Ireland
• City: Dublin
• Started in: 2013
• Founders: Patricia Scanlon
• Number of employees: 11-50
• Funding amount: $11,777,501
• Number of funding rounds: 4
• Number of investors: 6

You can find their website here.

19) Setter

Setter is a home service that handles all of your home’s upkeep and repairs.

Details of the startup:

• Country: Canada
• City: Toronto
• Started in: 2015
• Founders: David Steckel, Guillaume Laliberte
• Number of employees: 11-50
• Funding amount: $12,000,000
• Number of funding rounds: 3
• Number of investors: 10

You can find their website here.

20) Igloohome

Igloohome is a company that makes security locks for both residential and business use.

Details of the startup:

• Country: Singapore
• City: Singapore
• Started in: 2015
• Founders: Anthony Chow, Kelvin Ho, Sharon Goh
• Number of employees: 11-50
• Funding amount: $20,275,000
• Number of funding rounds: 6
• Number of investors: 18

You can find their website here.

FAQs

Is Smart Home Business Profitable?

Yes, a smart home business can be profitable. Smart home technology is becoming increasingly popular and more people are looking for ways to make their homes smarter and more efficient. 

Smart home technology can help reduce energy costs, improve home security, and provide convenience and comfort. As more people become aware of the benefits of a smart home, the demand for products and services in this space will continue to grow. 

Furthermore, the installation and maintenance of smart home systems can provide a steady stream of recurring revenue for a business.

What Is The Average Investment In Smart Home?

The average investment in smart home startups is estimated to be around $3.5 million. 

However, this figure can vary significantly depending on the size, nature, and stage of the startup.