Cocoon raises $3m in seed round

Cocoon has raised a $3m seed investment from Aviva Ventures and Breed Reply Investments the firms early stage investors.

Breed Reply Investments previously invested $1.3m following Cocoon’s successful Indiegogo campaign in December 2014.

“This significant investment will help us deliver our innovative Subsound technology and the first stage of our operational plan, complementing the support our Indiegogo backers have shown throughout the process of bringing Cocoon to life” said Cocoon co-founder, Sanjay Parekh.

“We’re already putting the funding to good use, aggressively expanding our engineering teams, marketing plan, and ensuring that we have sufficient capital to launch successfully in the first half of 2016.”

Ben Luckett, managing director 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. It is 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.”

Emanuele Angelidis, CEO of Breed Reply, added: “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.”

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