
Target Partners backs Senic’s seed round
Target Partners has provided a seed investment for German smart home business Senic.
Senic was founded within the Y Combinator programme, a US seed accelerator for emerging tech businesses. In March 2016, the startup received funding from San Francisco-based venture capital firm Birchmere Ventures.
Senic also received pre-orders totalling $500,000 via crowdfunding campaigns and is a partner of the Amazon Launchpad programme.
In April this year, Target backed another business that operates in the smart home sector, taking part in the $23m round for home climate control startup Tado.
Company
Founded in 2013 and based in Berlin, Senic builds hardware and software for smart homes. It creates interfaces using haptics-, vision- and speech-based products that offer access to smart devices and services. The startup currently employs 10 people.
Its first product, Nuimo, is a smart home controller that enables interaction with in-home technology such as Sonos or Raumfeld multi-room speakers, Philips Hue light bulbs, and smart thermostats.
People
Target Partners – Michael Münnix (partner).
Senic – Tobias Eichenwald, Philip Michaelides, Felix Christmann (founders).
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater