Portland Smart Apartment Tech Company Wins $5M In Funding
IOTAS, a Portland-based specialist in smart apartment tech, has obtained a total of $5.3M from Oregon Angel Fund and Rogue Venture Partners. The company's approach to smart home tech integrates Internet of Things tech into the infrastructure of rental units, helping those smart home products work together.
IOTAS-enabled apartments support a wide variety of connected devices, including popular products like Nest, Google Home and Amazon’s Alexa. The company also has been funded by the National Science Foundation, Creative Ventures, Oregon Best and Portland Seed Fund.
The company's Smart Hub has been integrated into several multifamily buildings in Oregon, California, Texas and Washington, with projects underway in 20 other states. The global smart home market is expected to reach an estimated $121.7B by 2022, according to a study by Research and Markets.