Boundary, an Edinburgh-based start-up, looks to raise a sum of £2.5 million in its first round of funding. The start-up is led by the duo behind intelligent payment system IPOS: Robin Knox and Paul Walton.
The start-up is based on revolutionising home security through smart home alarms. In order to establish its capital base, the business requires the mentioned funding to create numerous digital jobs. These would include roles in cloud infrastructure and mobile app development.
The smart home alarm system is due to launch later this year. A portion of the funding raised would, by that time, be used to finance ongoing testing and development of the final product.
Boundary intends to launch a Kickstarter event next month in which it aims to make between 500 and 1.000 sales of its products. It is likely to fetch between £100,000 and £200,000 in pre-sales revenue. The firm aims to establish its presence in 100,000 homes within the four years of its product launch.
Boundary’s intruder alarm would offer a certified police response and also include smart features such as geofencing and the ability to connect with Google Home or Alexa.
In the future, the company plans to develop a camera with the power of artificial intelligence that learns as it watches to protect the property’s boundary.By this date, the founders have invested £800,000 to self-fund Boundary.