ConnectM Technology has acquired the smart vent maker for an undisclosed sum in a deal that handed an exit to NYU Innovation Fund.
Home climate management technology provider ConnectM Technology has acquired Keen Home, a US-based smart ventilation system maker backed by New York University’s NYU Innovation Venture Fund, for an undisclosed sum.
Founded in 2013, Keen Home is the creator of the Smart Vent, which enables homeowners to control the temperatures of individual rooms through their smartphones by regulating the airflow in each room.
ConnectM said it will look to work with smart home builders and heating, ventilation and air conditioning manufacturers to add the technology to their offerings. It will also add Keen Home’s systems to its product line.
NYU Innovation Fund took part in a $1.25m seed round for Keen Home in 2014 that included communications equipment maker Comporium, insurer American Family0s strategic investment arm American Family Ventures and R/GA Ventures, advertising agency group R/GA’s corporate venturing subsidiary.
Bullet Time Ventures, Fund, Rugged Ventures, Galvanize Ventures and Brand Foundry Ventures also contributed to the seed round. Keen Home subsequently raised $3.9m in a crowdfunding campaign in late 2017.
– A version of this article first appeared on our sister site, Global Corporate Venturing.
