Skyscanner co-founder Gareth Williams makes biggest angel investment to date in Edinburgh home security start-up
An Edinburgh-based start-up looking to disrupt the home security sector has secured £1.5 million from Skyscanner co-founder Gareth Williams in investment totalling £3.7m.
Boundary Technologies launched its first product in March – a DIY smart home security system, which is said to utilise “cutting edge technology” to solve the problems of traditional alarm systems.
As part of the product’s evolution, an in-app panic alarm function that activates the outdoor siren has just been released.
The £1.5m from Williams marks his biggest angel investment to date and the overall funds raised will be used to expand the fast-growing capital business over the coming 18 months. Further growth is likely to be supported by a larger investment round in the future.
The remainder of the funds being raised comes courtesy of existing Boundary shareholders Scottish Enterprise and Equity Gap.
Company founders Robin Knox and Paul Walton, along with chairman Richard Lewis, are also investing a “substantial” sum of their own money in this investment round.
Knox, who is the firm’s chief executive, said: “This is hugely exciting news and is a change of trajectory from our original, more modest ambitions – we are now set on the path for Boundary to become a top-tier European home security business.
“To have someone with the calibre of Gareth giving our product his backing and mentorship is incredible; we have massive plans for the future.”
Scottish Enterprise has been a supporter of Boundary from an early stage, providing the company with advice and grant support in addition to investment.
Jan Robertson, interim director of growth investments at Scottish Enterprise, said: “Bringing Gareth on board is a boost for Boundary’s founders whose proven entrepreneurial track record has been a major factor in the remarkable growth enjoyed by the business already.
“We look forward to continuing to work with the company as it develops its products, attracts further investment and breaks into new markets.”
Part of the expansion involves developing the firm’s local crime information sharing network, with the additional benefits of leveraging data streams from any connected Boundary alarm system. The company is also doubling its team from nine to 18.