IPOS founders open first funding round for Boundary
The founders of Intelligent Point of Sale (IPOS), Robin Knox and Paul Walton, have opened the first funding round for their new venture – Boundary, a smart home alarm.
The founders have self-funded the Edinburgh-based tech startup with £800,000 but are now seeking up to £2.5m investment in a round that will close at the end of June.
“With the market for burglar alarms ripe for disruption, Boundary is preparing to revolutionise the home security market with its affordable and accessible smart home alarm system,” the company said in a statement.
The product is due to launch later this year and is expected to be in 100,000 homes within four years, it added.
The investment will be used to create a number of digital jobs within the firm including roles in cloud infrastructure and mobile app development. A portion of any investment raised will also be channelled towards the continued testing and development of the final product.
Knox said: “We recognise that humans have a deep-rooted instinct to protect their property and possessions, so our mission is to create the leading smart home security alarm that is affordable, accessible and most importantly, brings crime rates down by deterring criminals through the application of technology.”
Boundary will be launching a Kickstarter campaign in May and aims to sell 500 to 1,000 units; worth £100,000 to £200,000 in pre-sales.
“Smaller and more attractive than other alarms on the market, Boundary’s smart intruder alarm will fit effortlessly into the modern home. Owners will not be tied into contracts and will experience a lower cost of ownership than other more traditional systems,” the statement added.
“As well as providing seamless user experience, Boundary’s intruder alarm will offer certified Police response and features, such as geo-fencing and integration with Alexa and Google Home.”
Future plans include a camera that harnesses the power of AI to watch over a property’s boundary. The camera will learn what’s normal and what’s not so it can detect any suspect activity and proactively alert the user before any break-ins take place.
Knox and Walton exited their previous business, Intelligent Point of Sale, which was sold to iZettle and then subsequently acquired by PayPal in 2018 for $2.2bn.
Why innovation and marketing are the perfect partners to make changes that matter￼
With the rapid evolution of traditional marketing and the appearance of digital marketing, technology and innovation has become part of any marketer’s life without the need of working for a…
Transitioning to a four-day week – CEO’s vow to strike a healthier balance in the workplace
I came to Scotland nearly 20 years ago from Ireland, with no contacts but a lot of determination. While Ireland will always be my home, Scotland has given me amazing…
Women Lead: The female-led company championing intuitive working
Over the last two years, the pandemic forced a shift to more remote and flexible working practices. Whilst we might be seeing a “return to normal”, some companies are choosing…
Women Lead: My passion for young people to consider a career in digital
Twenty years ago, I stumbled across my career in digital marketing almost by accident. It was during my honours degree in marketing at Glasgow Caledonian University. I was on work…
Women Lead: Inclusive Silicon Valley cohort gives hope to entrepreneurs from diverse backgrounds
Things are happening on the Scottish tech scene. Big and small initiatives are creating a fantastic ripple effect on the sector, bottom up and top down, thanks to the recommendations…
Women Lead: The story of an entrepreneurial scientist
I first arrived in Scotland over 20 years ago. I had £75 in my wallet and a scholarship offer to do a PhD at the University of Edinburgh. Sometimes I…
Please mind the gap… or healthcare may fall
Imagine sharing a lengthy train journey with others. From beginning to end, imagine how often you might hear ‘mind the gap’ messages about embarking and disembarking safely. Picture how navigating…
Women Lead: My journey from Dragons’ Den to Silicon Valley
Following her appearance on Dragons’ Den, Sheila Hogan, serial entrepreneur, founder and chief executive of digital legacy vault, Biscuit Tin, shares her experience of her time in the Den and…