January 25, 2017
What good is a connected fridge if you have to use a boring old analogue doorbell to even get into the house?
That is the question Qualcomm Ventures is piecing together an answer to, via its investment in smart doorbell startup Ring. A consortium that includes multiple other VCs is handing over $109 million of funding in a bid to enter the market at the bottom. They are hoping to show that the sector’s reputation for pointless gimmickry is just a bum rap.
The latest smart home breakthrough pioneered by Ring is a doorbell attached to an internet connected camera that can allow you to spy remotely on anyone who has the temerity to ring your bell and even shout threats and abuse at them from the comfort of your own phone, if that’s your thing. One of its products is called Stick Up Cam, which Ring insists you can ‘mount anywhere’.
“We are thrilled to partner with Jamie Siminoff and the team at Ring to help make homes and neighbourhoods safer,” said Randy Glein, partner at DFJ Growth, one of the investors. “Ring has quickly emerged as the market leader with its new generation of connected home products that incorporate elegant design and advanced video processing technologies to enable simple and affordable home monitoring. The company is experiencing explosive growth as communities embrace Ring as their digital neighbourhood watch. We are proud to be part of this mission.”
This fresh injection of cash will apparently be pumped into Ring’s international expansion.