Yesterday we discussed the pro’s and con’s of smart thermostat ‘Nest’. But have you heard of their direct competitor, ‘Ecobee’? The company are making waves this week as it gears up to further develop its catalog of smart home devices.
The Smart thermostat maker raised around $62 million (CA$80 million) in a series C round of funding from investors including the Amazon Alexa Fund, the Toronto-based company told CNBC.
The deal comes just one week after Amazon acquired video doorbell maker Ring in a deal reportedly valued at $1 billion (We covered this story earlier in the week). Amazon consequently made plans to stop selling competing products made by Google-owned Nest.
Ecobee has designed its smart thermostats to work in conjunction with software and systems from Amazon, Apple, IFTTT, Google and Samsung. Additionally, it sells the devices on Amazon and in stores such as Apple, Best Buy, Home Depot and Lowe’s.
So whats all the fuss about Ecobee?
The Ecobee 4, the company’s latest smart thermostat, has built-in Alexa, which allows users to just tell the device how to adjust the temperature, without fussing with controls or remotes. They can also ask their thermostats for a weather or news update, or use them to order an Uber or a pizza. Pretty cool huh!
“All of our products are built around helping customers save money and conserve energy,” said Ecobee founder and CEO Stuart Lombard. “But we also have a vision to change the smart home from a collection of hard-to-configure devices to something with a better outcome for consumers.”
It will be interesting to see the response of ‘Nest’ to the accelerated development of Ecobee as a growing competitor.
Tune in later next week where we discuss some of the pro’s and con’s related to the Ecobee 4! Who do you think will come out on top?