Smart Home Company Xunison Raises Over €3.3M in Funding
Irish software and hardware provider Xunison has raised €3.35 million in seed capital.
he company provides smart home solutions, including all-in-one broadband and digital home services, to the telecommunications market.
It provides customers with smart devices, mobile apps, cloud-based management platform as well as mobile entertainment and other connected services.
The Dublin-based company was founded in 2016 and launched the funding round in October last year, employing Focus Capital to help raise.
Chief executive Ryan O’Donovan said the level of interest in the funding round “exceeded our expectations and capacity” when it closed on Christmas week.
All new funding will be used for the next phase of the company’s global growth plans.
The company partnered with Saudi Telecom Company (STC) in September last year. The deal sees Xunison supply its smart home and consumer communications technology to Riyadh’s telecom provider.
Following this partnership, Xunison will now expand its presence in the Middle East through the growth of its local sales team.
Xunison has also unveiled plans for an office in the United States and will now expand its marketing, sales and customer support operations in this market.
In the UK and Europe, Xunison will expand its sales team and also launch its 5G device in the market. Xunison aims to sign with communications service providers over the next two years.
The company will also use the funding to attend key trade shows in the United States and Europe.
“With this funding, 2022 will see Xunison solidify our brand presence and effectively communicate the organization’s incredible capabilities to a global audience,” he said.
“Unsurprisingly, interest in the funding round was strong and oversubscribed. We believe Xunison can become a major global company and that its hardware and software platform capabilities extend well beyond anything we’ve seen in the market,” said Martin Higgins, Director of Focus Capital.