Zensys AS, a maker of wireless home control software, has raised an undisclosed amount of strategic funding from Panasonic. It had previously raised over $44 million from firms like Intel Capital, Cisco, Bessemer Venture Partners, Palamon Capital Partners and Sunstone Capital.
PRESS RELEASE
Zensys, developer of the award-winning Z-Wave wireless home control standard, today announced a Panasonic investment. This investment adds a global leader in consumer electronics to an impressive list of investors that includes Intel Capital, Cisco, Bessemer Venture Partners, Palamon Capital Partners and Sunstone Capital. Zensys will use the funding to further its push into the Global Home Automation and control marketplace.
Home control is becoming mainstream and consumers are hungry for devices and gadgets that can be used to control their homes while away, keep an eye on their homes from afar and reduce their energy consumption on a daily basis. Z-Wave is leading the market based on the number of manufacturers developing Z-Wave-enabled products and the total number of products already in the market. Z-Wave is bringing home control and automation solutions to everyday people with everyday problems.
“Panasonic looks forward to working with Zensys to help consumers enjoy the benefits of the 'smart home of the future' today,” said Dr. Paul Liao, Chief Technology Officer, Panasonic Corporation of
Z-Wave is the first technology to bring affordable, reliable and easy to deploy wireless home control to every aspect of daily life — the home environment, consumer electronics, healthcare, and energy management. Z-Wave's award-winning, interoperable wireless mesh networking technology allows a wide array of devices around the home to communicate, including lighting, appliances, HVAC, entertainment centers, and security systems.
“Panasonic venture team's interest in Zensys is in recognition of the fact that Z-Wave is a leading technology with a demonstrated track record in wireless home control and which offers a price point that allows manufacturers to bring the technology to the mass market,” said Dilip Sampath, Venture Partner in Panasonic's U.S. venture group.
“We are gratified that we have received this strategic investment. We are expecting to engage at multiple levels of partnership with this premier global leader,” stated Tony Shakib, CEO of Zensys. “All the signs point to significant growth ahead in wireless home control and automation, and Z-Wave has clear performance and time-to-market advantages in the marketplace.”
About Z-Wave and Zensys
Z-Wave
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