Amazon Alexa Fund and GV have exited wifi router developer Luma, which had raised $22m, in an acquisition reportedly sized at more than $10m.
Luma, a US-based wifi hub manufacturer backed by internet technology group Alphabet and e-commerce firm Amazon, has been acquired by consumer group Newell Brands for an undisclosed sum, Axios has reported.
The transaction concluded last week according to Axios, and was reported by Atlanta Business Chronicle to have been sized at more than $10m. Luma had raised approximately $22m in funding.
Founded in 2014, Luma had developed a smart home wi-fi system intended to give better internet reception by using…
