IoT: Netatmo up 30 million euros and hosts the industrial group Legrand in its capital

Specialist connected objects, the French company Netatmo up 30 million euros from its historical shareholders and hosts the industrial group Legrand to its capital. 

This is the most important of the year raising funds in the area of objects connected in France. Netatmo, founded in 2011, today announced a fundraising of € 30 million. Any transaction with the Legrand industrial, specialist in electrical and digital building infrastructures, which enters the capital alongside existing investors that put the pot: Iris Capital, the Digital Ambition Fund, managed by Bpifrance and Pascal Cagni, President and founder of C4 Ventures. Established in 2011 with initial funding of 2 million euros, the young company had in fact already raised € 4.5 million in 2013 with three investors.

Advised by Lazard during the competitive process of raising funds, the leaders of Netatmo turned to Legrand including the potential that the group represents for the development of joint projects. "We are proud to bring to Netatmo, leading French actor of objects connected to the house, the resources to continue its strong growth. This rapprochement will facilitate possible collaborations between the two marks in order to develop interoperable products and connected electrical and digital infrastructure for professionals and the general-public building, "said his side Schnepp, Chairman and CEO of Legrand .

Netatmo the onslaught of 200 million European homes

"We  sized duplicates each year while maintaining a neutral or slightly profitable operation, 30 million raised thus not serve to plug a hole but operating fund this investment objective,says Frederic Potter, CEO and founder of the company .   This money will allow us to expand our product offering and to conduct marketing activities to publicize our products. It is estimated that we have a potential of 15 milion to equip homes in France and 200 million in Europe " 

An advertising campaign is thus currently airing on French screens with undisguised educational objective. "Our  main competitors are the ordinary objects that are not connected to the Internet,confirms Frederic Potter.  The temptation for the client that changes its heating system is to take a thermostat stupid. We need someone to explain to consumers all the benefits they can derive a product connected to the internet. Besides, we do not see the other specialized companies connected objects as obstacles because they are involved in educating the market. "

With products like the thermostat or weather station for smartphone, sold in 175 countries and distributed in stores in 50 countries, Netatmo intends to deploy more internationally. Today, 20% of sales are generated in France, "but it is not enough", said the leader. England, for example, countries in which the brand is sold, and resists the offensive Netatmo whose products are already sold at John Lewis for example.

With 100 people on board, the company plans to double its turnover and recruit 50-80 people by the end of 2016. Essentially profiles R & D, sales and marketing.