Well color me intrigued. Roost, a startup founded a few months ago by former Ozmo CEO Roel Peeters has launched with $975,000 in seed funding from DCM Partners and Legend Star, an investment division of China’s Legend Holdings. As part of the funding, Slingbox creator Jason Krikorian, now a general partner at DCM, is working with the company.
[company]Roost[/company] plans to reveal the details of its first product at its launch at Structure Connect on Oct. 21 and 22 in San Francisco, but it promises to be a retrofit for a common household device to add connectivity for less than $50. Given that cost is one of the huge factors keeping consumers away from the smart home, a sub-$50 retrofit could make a lot of sense provided its easy to implement.
I currently can add a $50 light switch to my home and make it smarter, but it involves playing around with high-voltage wires. That’s not as simple as it needs to be for mainstream adoption. And Peeters is aiming his product at the mainstream market, using the funding to build a company today and then planning a crowdfunding campaign in the fall to support the manufacturing of the actual device.
In the meantime, we can speculate what Peeters, who is the former co-founder of low-power Wi-Fi chip firm Ozmo, might be doing with his skills as a low-power radio guy with high-level contacts at [company]Atmel[/company] (which purchased Ozmo in December 2012.)
Update: The story has been corrected to reflect that Jason Krikorian is working with the company but is not a board member.