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Sensor Global, a NSW-based PropTech specialising in IoT solutions for residential properties, has raised $2.65M. The Seed round funding came from a mix of angels, including Shane Oswin, David Lynas, and David Welsh, with institutions like Causeway Equities LLC and Second Century Ventures closing out the round. The round closed quickly with devices already pre-sold to community housing and property manager clients. The current product is an IoT smoke alarm that can alert property managers in case of tampering, power loss or the need for cleaning. Product (and revenue) expansion will come from other intelligent products like water leak detectors, carbon monoxide alarms and water shut-off valves.
Behind the technology is a cloud software platform that can integrate into the property manager's current CRMs and management systems. An essential cost saving for many is the automation of unit testing - bringing relief to renters and property managers across the globe. Rumour is that Sensor Global is already in talks with investors for another $2.4M for expansion into the US.
Due Diligence: SmartCompany
