Roost Raises $5.5M To Retrofit Dumb Gadgets Into Smart Gadgets –
Summary
The company’s first product is a smart battery that fits in most smoke detectors and adds smartphone notifications and more. RPM Ventures was joined by a subsidiary of financial services provider USAA, DCM Ventures, Start Garden, and Jay Adelson’s Center Electric. “Roost has hit upon a unique retrofit approach that enables every consumer to enter the smart home market without buying shiny new devices or spending hundreds of dollars,” said Adam Boyden, Managing Director, RPM Ventures. “With a clear mission to solve actual problems that consumers face every day, and create solutions anyone can easily install and use, Roost is blazing a path for the broad adoption of IoT in the home.” Roost is attempting to sneak smart home functions into existing gadgets. Roost’s approach is novel and if marketed correctly, the company should have an easier time finding consumer acceptance than companies requiring the purchase of brand new items.