IoE Startup Nest Labs Lands $150 Million in Additional Funding –
Summary
Nest Labs, a heavily venture-backed smart home startup whose wireless, sensor-equipped, Internet of Everything thermostat has drawn widespread raves, has landed $150 million in additional funding, bringing the company’s valuation to a cool $2 billion, according to reports. Nest Labs, a heavily venture-backed smart home startup whose wireless, sensor-equipped, Internet of Everything (IoE) thermostat has drawn widespread raves, has landed $150 million in additional funding, bringing the company’s valuation to a cool $2 billion, according to reports. Other venture backers also may be involved, driving the investment to upwards of $200 million and Nest’s valuation toward $3 billion, the report said. "According to several people with knowledge of the situation, the transaction appears to have been clinched by Yuri Milners DST Global investment firm," wrote Re/Code’s Kara Swisher. The company is in the IoE forefront for now, following its smart thermostat with a smoke and carbon monoxide detector that also connects to the heating and cooling regulator, framing the beginnings of what is expected to grow into a multi-trillion dollar industry of sensor-equipped digital objects and devices spanning the globe.
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