Smart home manufacturer HUM Systems ("Livy") closes seed financing for 2.3 million euros
HUM Systems closed a seed investment of 2.3 million euros for its vision of simplifying smart homes and better connecting people in need of care.
The majority is equity financing from business angels of the private investor network Companisto, which includes entrepreneurs from the construction and real estate industries, and the venture capital company Brandenburg Kapital, a subsidiary of the Brandenburg development bank ILB. High Rise Ventures is also participating as a co-investor and is thus also betting on the smart multi-solution of the future.
The IoT company was founded in 2017 by Ali Reza Humanfar, Amir Humanfar, and Helena Peralta Becker in Berlin and has since been developing user-friendly all-in-one products under the smart home brand "Livy" to make life more comfortable, easier and safer.
"Livy" as a solution for smart care for the future
The "Livy" brand, which has now won several awards, currently has around 20 employees who are constantly working on the further development and optimization of its smart living station "Livy Alive", which stands for multi-functionality, maximum user-friendliness, and regular new functions through software updates in the smart home sector. The focus of the daily work is first and foremost on the needs of the users and their safety and comfort in their own homes. Thanks to a close partnership with an electricity and gas supplier, more than 20,000 households have already been equipped with "Livy" devices since 2017. The new smart living station "Livy Alive" is the first IoT device that can "hear," "see," "feel" and "speak" at the same time, combining important sensors such as a camera, microphones, and radar as well as air sensors. The start-up has already set new standards in the field of connected security and now also wants to expand more strongly on the topic of self-determined living in old age. The company is deliberately focusing new functions on use cases in the field of (geriatric) care, taking its cue from high data protection compliance and the weak points of existing systems on the market. HUM Systems bundles numerous sensors in a compact and user-friendly smart home device that can be easily controlled from anywhere via smartphone and connects relatives or caregivers with people in need of help.
In the near future, software updates will enable the device to detect calls for help, inactivity, glass breakage, and falls, and trigger appropriate alarms to ensure rapid assistance for those affected. "Livy" simultaneously with the device offers multiple options for barrier-free communication via video and audio. It thus allows direct exchange in alarm situations via remote access. With the financing, HUM Systems now wants to invest in the further developments of this area and sales at the new location in Chorin (Brandenburg).
"The past weeks and numerous discussions with investors and our existing business and sales partners show that we are on the cutting edge with our products. We are in a position to offer people a future-proof solution that can resolve many current problems in the (home) care sector. We want to make a self-determined life significantly easier for many of those affected. With the funding, we can set new milestones and work confidently on our visions. For this, my team and I are extremely grateful," explains CEO and founder Ali Reza Humanfar.
"We invested in HUM because the "Livy Alive" solution addresses one of the biggest challenges in demographic change, enabling older people to live in their own homes for as long as possible. The well-coordinated team consists of a mix of software and hardware experts, which is rather unusual for start-ups, and has now developed this intelligent smart living concept and launched it on the market. With this in-house expertise, the innovative edge can be maintained in the future and transferred to other application areas," added Katja Kühnel, Senior Investment Manager at Brandenburg Kapital.
"We were immediately curious to get to know HUM when Brandenburg Kapital, a venture capital investor we value, asked us if we could imagine another co-investment with them. In terms of content, the Smart Living concept of "Livy" appealed to us, as we see many synergies with our medium-sized investor network - especially in the real estate industry and in the field of care. The deciding factor for inclusion in the Companisto portfolio was the team at HUM, which won us over with their technical expertise and entrepreneurial vision," describes Nicolaus Schlieffen, Senior Investment Manager at Companisto, in summary.
Companisto is the market-leading private investor network in the D-A-CH region and has been the most active private venture capital provider in Germany for five years in a row. To date, more than 149 million euros have been committed via Companisto in currently 227 financing rounds. Since 2018, Companisto has expanded its network of currently 122,300 private investors with a digitally organized Business Angel Club. Around 1,400 business angels invest in the equity of companies via Companisto with investments starting at EUR 10,000. The investment process and investment management have been fully digitized.
Further information at: www.companisto.com, www.companisto.com/de/angel-club
About Brandenburg Kapital GmbH/ ILB
Brandenburg Kapital is a subsidiary of the Investitionsbank des Landes Brandenburg (ILB). As the venture capital arm of ILB, it has been supporting Brandenburg-based companies since 1993 by acquiring equity stakes and investments similar to equity stakes. As a public venture capital company, experienced lead investor and active partner, Brandenburg Kapital ensures a strong equity base for start-ups and small and medium-sized enterprises in the state of Brandenburg on the basis of a stable group environment. To this end, the early-stage and growth fund is currently available in the amount of around 100 million euros. The fund resources for the Brandenburg Kapital fund, which was set up on behalf of the Brandenburg Ministry of Economics, are currently provided from resources of the European Fund for Regional Development and from ILB's own resources. Through ILB's investment activities, 232 companies have so far been supported on their growth course with around 256 million euros. In addition, private investors have invested more than 525 million euros in the companies to date.
Further information under: www.brandenburg-kapital.de
About HUM Systems GmbH
Founded in 2017, HUM Systems is a Berlin-based IoT (Internet of Things) company in the smart home market. The abbreviation HUM is a construct of the English words HUMAN and MACHINE and an expression of the claim of the multi-award-winning start-up to bring people (HUMAN) and technology (MACHINE) together in intelligent systems (SYSTEMS).
Further information: https://hum-systems.com
About the "Livy" brand family
With "Livy Protect," HUM Systems has created a user-friendly all-in-one smart home product that solves three main needs of people living indoors. "Livy Protect" allows users to protect their homes from fire and burglary, monitor temperature, humidity, and air quality, and engage a community of family and friends through the use of the "Livy App," which provides push notifications in the event of an alarm. "Livy Plus" offers customers additional services, such as the "Home Cover" insurance package, which takes effect in the event of nasty surprises at home - whether loss of keys, water damage, or a break-in. As part of its cooperation with the energy supplier Vattenfall, HUM Systems has already developed two generations of "Livy Protect" devices and launched them on the market. Since October 2021, the "Livy Alive" is now also available to users, thus rounding off another milestone for the smart living company.
Further information: https://livy-home.com