enModus, a developer of smart home communications technology, has closed $2.5m of seed investment from current investor Andromeda Capital Partners, and new investor Finance Wales. Following the investment round, enModus has relocated to larger premises in Chepstow, Wales, to accommodate planned growth of its engineering and commercial team.
The funding will enable enModus to launch its groundbreaking power-line communications technology, Wattwave, which has been specifically developed for embedding connectivity in appliances and buildings.
Andy Heaton, enModus CEO commented: _The Smart Home market is growing rapidly, with both major consumer electronics companies and new entrants successfully launching smart devices for the home. These devices need to connect reliably, regardless of where they are installed, which is something wireless technologies like Wi-Fi and Bluetooth cannot deliver. Wattwave offers extremely robust, long range and affordable communications for low bit-rate monitoring and control applications, uniquely filling this gap in the market.î
Heaton continued: _This new investment from both Andromeda Capital Partners and Finance Wales also enables us to optimize and cost reduce Wattwave even further. With our existing grant support from the Department of Energy & Climate Change (DECC) under their Energy Entrepreneurs Fund (EEF), we can accelerate our technology roadmap and vastly increase the applications that can be supported with Wattwaveî.
Welcoming Finance Wales to the Board, Heaton added: _Were delighted that Finance Wales is joining Andromeda Capital Partners as an investor in enModus. With their investment, and additional support from the Energy Entrepreneurs Fund, we can bring Wattwave to market and make a reliable, affordable smart home a reality.î