Nest Labs close to raising between $150-$200 mln – Silicon Valley Business Journal

According to the Silicon Valley Business Journal, Nest Labs is raising between $150 million and $200 million in funding. The publication reported that this amount places the company’s valuation at between $2 billion and $3 billion. The investors in this round have not been named. Based in Palo Alto, Calif., Next Labs, which was founded by former Apple executive Tony Fadell, is a maker of a smart-home thermostat.