Investments

Nucleus Brings Home $5.6M In Funding

Just two years old, Nucleus, a home intercom system, just brought in $5.6 million in Series A funding.

Considered a “promising startup” that incorporates Amazon’s Alexa, investments were made by BoxGroup, Greylock Partners, FF Angel, Foxconn, SV Angel, Liquid2, as well as Amazon’s Alexa fund.

Nucleus recently added support for Alexa voice capability.

Back in 2014, when Nucleus launched, the company thought that the smart home idea would have everyone on board. To date, it’s been more the tech-focused group who want to be early adopters, want to show their connectivity and want to get in on the Internet of Things.

Nucleus has already been on display at 500 Lowe’s hardware stores. People in 47 states have already adopted the technology, even just after one month on the market.

Jonathan Frankel, cofounder and CEO of the company, said many Nucleus users weren’t searching for a home intercom system. However, after discovering that Nucleus is economically better for their home and family, they’re on board.

Users are buying somewhere between three and four devices, with each dropping in price once you purchase an additional unit.

The new funding, according to the company, will funnel to ramp up new products, add new engineers, as well as purchase home phone system Ily.

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