Nest to raise $80M for smart thermostats
Nest, makers of smart, learning thermostats, has reportedly raised $80 million.
Nest, makers of smart, sleek thermostats that learn user behavior and adjust to save residents money, has reportedly raised $80 million, according to tech blog GigaOm.
GigaOm said the company is shipping 40,000-50,000 of its thermostats each month, but Nest won't confirm either the capital raise or the units shipped. GigaOm said Google Ventures led the round and Venrock joined as a new investor.
When the San Francisco Business Times wrote about the Palo Alto-based startup nine months ago, it had 100 employees and had sold thermostats in all 50 states.
Matt Rogers and Tony Fadell, who designed Apple’s iconic iPod, started Nest Labs Inc. in May 2010. They sold the first one in October 2011through Nest’s online store.
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