We have seen a number of European startups make a move into the home with devices that control security, temperature, the television, lights, and so forth. One of the latest is Swedish startup Ngenic, which rolled out a smart thermostat for their home market not too long ago.
Ngenic has developed a three-part system that aims to help their customers cut down on energy costs. One part is the wireless indoor sensor, to be mounted on the wall in order to collect information about sunlight and temperature. The second is the Gateway, which connects to the router or modem (even by Ethernet, through a cable that they provide) in order to collect cell-phone information. And the final piece is the control box, which monitors the temperature outside. The platform works by taking information obtained about the temperature and sunlight, factoring in previous temperatures and the desired temperature, and coming up with a value. That value is then sent to the Gateway, which relays it on to the control box, in order to ostensibly find the most comfortable temperature at the cheapest price.
The devices have been on sale since November 2014 and start at around $310, as well as $6 per month for as long as you use the service, or around $615 for complete ownership. Most smart devices would not be complete without a companion app and this one is no different, as they have introduced versions for iOS and Android.
Ngenic does not wish to reveal their current number of users, but would say that they have a userbase spread across Sweden and that “numerous” energy companies are planning pilots for the fall, which may help the startup to drastically increase their traction. They are currently keeping figures regarding investment private, as well, but say that they have backing from governmental innovation organizations and angel investors.
According to Bjorn Karlstrom from Ngenic, they are mainly focusing on further refining the product for now. The team at Ngenic is currently working to increase stability and expand integration of the device, as well as continuing to explore findings on return temperature, which they have found to be useful for the energy industry.
The popular Nest, the developer of which was recently acquired by Google, has not yet made its way into the Swedish market, only available in North America and a handful of countries in western Europe. Thus, it would appear that Ngenic largely has this market to themselves for the time being.