Irish software and hardware provider Xunison has raised seed capital of €3.35m.
The Company provides smart home solutions to the telecommunications market, including all-in-one broadband and digital in-home services.
It provides customers with smart devices, mobile applications, a cloud-based management platform, and mobile entertainment and other connected services.
The Dublin-based company was founded in 2016 and started the funding round last October, using Focus Capital to help with sourcing.
Chief Executive Ryan O’Donovan said interest in the funding round “exceeded our expectations and capacities” when it ended during Christmas week.
All new funds will be used for the next phase of the company’s global growth plans.
The company entered into a partnership with Saudi Telecom Company (STC) in September last year. Under the agreement, Xunison will supply its smart home and consumer communications technology to the Riyadh-based telecom operator.
Following this partnership, Xunison will now expand its presence in the Middle East through the growth of its local sales team.
Xunison has also announced plans for a United States office and will now expand its marketing, sales and customer service activities in this market.
In the UK and Europe, Xunison will expand its sales team and also launch its 5G device. Xunison intends to enter into contracts with communication service providers over the next two years.
The company will also use the funding to attend major trade shows in the US and Europe.
“As a result of this funding, Xunison 2022 will solidify our brand presence and effectively communicate the organization’s incredible capabilities to a global audience,” he said.
“Not surprisingly, interest in the funding round was strong and oversubscribed. We believe Xunison has the potential to become a significant global company and that its hardware and software platform capabilities far exceed anything we have seen in the market,” said Martin Higgins, Director of Focus Capital.
https://www.independent.ie/business/irish/smart-home-firm-xunison-raises-over-33m-in-funding-41858950.html Smart home company Xunison raises over 3.3 million euros in funding