15 Growing Smart Home Companies & Startups 2024
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The rapid expansion of Wifi has heralded in the age of connected devices, IoT (Internet of Things), and smart homes.
From changing the temperature remotely to managing security around the house, almost everything can now be done through smartphones.
The startups below have made major ground in building out comprehensive smart home solutions that save homeowners time, energy, and frustration by making tedious tasks easy to do.
Check out our top picks for 2024’s most interesting smart home startups.
1. SwitchBot
5-year search growth: 1,220%
Search growth status: Exploding
Year founded: 2015
Location: Shenzhen, China
Funding: $420K (Series B)
What they do: SwitchBot is a smart home company that specializes in creating devices that can turn traditional home appliances into smart ones.
Their products include smart switches, curtain motors, and thermometers, which can all be controlled using a smartphone or voice assistant.
2. Arenti
5-year search growth: 3,233%
Search growth status: Exploding
Year founded: 2020
Location: Hoofddorp, Netherlands
Funding: Undisclosed
What they do: Arenti is a DTC smart security camera startup. They sell 15 core SKUs. The startup also provides an app that enables users to access their cameras remotely. The app has been downloaded over 100,000 on the Google Play store.
Furthermore, their devices are also compatible with Alexa and Google Home. Arenti’s flagship product, an indoor security camera, generates approximately $70K/month on Amazon.
3. Govee
5-year search growth: 2,650%
Search growth status: Exploding
Year founded: 2017
Location: Hong Kong, China
Funding: Undisclosed (Series A)
What they do: Govee is a smart home technology company that specializes in creating affordable and easy-to-use LED lighting solutions, as well as other smart home devices.
Their products include smart light strips, bulbs, and lamps, as well as thermometers, hygrometers, and other environmental sensors that can be monitored through their mobile app.
4. Eufy
5-year search growth: 760%
Search growth status: Exploding
Year founded: 2016
Location: Birmingham, United Kingdom
Funding: Undisclosed
What they do: Eufy is a smart home company that creates affordable and convenient smart home products.
Their products range from smart lighting to security cameras and smart doorbells, all of which are designed to make life simpler and more efficient.
5. Innit
5-year search growth: 70%
Search growth status: Regular
Year founded: 2013
Location: Redwood City, California
Funding: $43M (Series Unknown)
What they do: Billing themselves as a “smart kitchen platform”, Innit’s all inclusive app and algorithm integrate with everything from appliances to modern cookbooks with the latest recipes.
Innit’s platform underlies its three consumer experience segments: Cooking, Meals, and Nutrition. Innit partners with retail to provide shopping experience and interesting recipes. They also have partnerships with appliance makers to promote new products to smart appliance customers.
6. Nature
5-year search growth: 90%
Search growth status: Regular
Year founded: 2014
Location: Shibuya, Japan
Funding: $5.7M (Non-Equity Assistance)
What they do: Nature is a Japan based firm taking advantage of the smart home trend but tailored exclusively to the Japanese market. Users can set “rules” for devices that if the house hits a certain temperature, air conditioners around the house turn on or set times for the TV to come alive.
7. Reolink
5-year search growth: 370%
Search growth status: Exploding
Year founded: 2009
Location: Wan Chai, Hong Kong
Funding: Undisclosed
What they do: Reolink is a smart home security startup that specializes in security cameras and surveillance systems. Its primary products include wireless security cameras and pan/tilt smart home cameras. They've also recently expanded into the video doorbell and home hub markets.
8. Ajax Systems
5-year search growth: 112%
Search growth status: Regular
Year founded: 2011
Location: Kyiv, Ukraine
Funding: $11M (Series A)
What they do: Hailing from Ukraine, Ajax Systems has created a suite of security and home safety sensors ranging from traditional security cameras to advanced fire and flood detection.
Customers can choose individual products like sirens or glass protectors that all revolve around the central Ajax system hub. The startup has been making inroads in eastern European countries like Kazakhstan but is aiming to expand across Europe.
9. Dreame
5-year search growth: 1,329%
Search growth status: Exploding
Year founded: 2015
Location: Suzhou, China
Funding: $578.1M (Series C)
What they do: Dreame is a smart home appliances company known for its premium hairdryers and Dyson-style vacuums. In 2023, the company's robot vacuum saw a 300% increase, surpassing 2.4 million units worldwide. Today, more than 21 million households use Dreame products across 120+ countries and regions.
10. Pura
5-year search growth: 15%
Search growth status: Exploding
Year founded: 2014
Location: Orem, Utah
Funding: $4.4M (Seed)
What they do: Pura is a smart home fragrance company, offering their unique Pura Fragrance Diffuser that allows users to customize fragrances and control everything in the Pura app. Users can also set schedules for certain fragrances to be released around the house depending on mood.
Pura’s business model centers around the affordable diffuser and the subscription style refill model with fragrances from well known brands like Disney, Nest, and APOTHEKE.
11. Sense
5-year search growth: 32%
Search growth status: Exploding
Year founded: 2013
Location: Cambridge, Massachusetts
Funding: $174.6M (Series C)
What they do: Sense offers customers a 360 degree view of all of their appliances and connected devices throughout the house. For example, a user has complete control of electric usage and alerts for random things like the garage door opens unexpectedly or when the oven is left on for a dangerously long amount of time.
12. SmartRent
5-year search growth: 81%
Search growth status: Regular
Year founded: 2016
Location: Scottsdale, Arizona
Funding: $256.5M (Post-IPO Equity)
What they do: SmartRent is an online platform that connects community smart home devices to one place so property owners, managers, and homebuilders can manage operations in a central hub. Their services include self-guided property tours, remote thermostat control, parking management, and more. There are currently more than 500,000 SmartRent units installed and over 535,000 users.
13. Tovala
5-year search growth: 182%
Search growth status: Peaked
Year founded: 2015
Location: Chicago, Illinois
Funding: $68.6M (Series C)
What they do: Tovala is a smart oven manufacturer that sells self-efficient ovens that cook and steam-clean themselves.
With the Tovala app, users can scan the barcode of Tovala meals and the oven will automatically adjust its settings to cook the meal perfectly.
14. Aqara
5-year search growth: 350%
Search growth status: Exploding
Year founded: 2009
Location: Shenzhen, China
Funding: $278.1M (Series C)
What they do: Aqara is a smart home startup that manufactures various products such as control centers, sensors, cameras, and locks. All of their devices seamlessly integrate with major voice assistants like Amazon Alexa, Google Assistant, and Apple HomeKit. The company currently supports more than 12 million global users.
15. CLMBR
5-year search growth: 1,000%
Search growth status: Peaked
Year founded: 2017
Location: Denver, Colorado
Funding: $26.9M (Series B)
What they do: CLMBR is a smart home fitness company that provides an innovative, vertical climbing machine designed to provide users with a full-body workout.
The CLMBR machine features a touch screen display and allows users to track their progress and compete with others through its connected app.
Conclusion
These smart home startups are all on to turn homes into digital fortresses that are able to self-sustain and even make active recommendations for improvements.
One trait that ties many of these companies together (besides the fact that they’re all well-funded) is their focus on saving energy and energy efficiency. Consumers demand smart home devices for convenience. But also to reduce their impact on the environment.
