Amber Solutions Closes Series-A Funding to Commercialize Its IoT Enabling Breakthrough Technology
Funding enables commercialization of Amber’s technologies into smarter outlets, switches and circuit breakers with improved safety and more robust internet of things and machine learning functions
Dublin, CA – May 17, 2018 –Amber Solutions, Inc. (Amber), an innovative technology product company with a breakthrough in advanced solid-state solutions for enhanced internet of things (IoT) enablement, today announced the closing of its Series A Preferred Stock round of financing. The $3.3 million in gross proceeds from the financing is expected to support the commercial development of Amber’s core technologies, which uniquely enables significantly more IoT features in products like smart outlets and smart switches than other comparable technologies on the market today.
The innovative, solid-state nature of Amber’s technology delivers several strategic advantages and sets a new standard for safety, quality, and reliability over today’s typical IoT products. Amber’s competitively disruptive, broad range of smart IoT sensors, connectivity and intelligence integrated into smarter outlets and switches fits discreetly into a standard single gang box footprint common throughout every home and building.
“We are pleased that our investors are embracing Amber’s vision of bringing superior IoT intelligence and connectivity to a highly strategic area–the single gang box locations within the standard electrical infrastructure in homes and buildings,” said Amber Solutions CEO Thar Casey. “Our team of experienced technology professionals, with deep Silicon Valley heritage, has identified a major market opportunity and crafted a truly disruptive approach to the legacy, limited function smart products on the market today.”
He continued, “The conventional thinking that smart automation will forever be powered by a swarm of individual function products has actually limited adoption of smart home and building technologies. Amber hopes to provide the solutions to truly create smart connected homes and commercial buildings.”
The Amber IoT ecosystem provides a substantially expanded IoT sensor and automation infrastructure, which is a necessary foundation for the next generation of artificial Intelligence (AI)-based smart automation systems in development today.
“Amber’s smart outlets and switches strategically aggregate IoT sensors and functions within a structure’s single gang box locations. This means a more discreet and yet wider array of IoT sensing and control in every room, than is typical today,” concluded Casey.
Amber is building out a portfolio of product lines on top of its core technologies, including smarter and safer switches, outlets, GFCIs, circuit breakers and more. The company plans to launch its first series of products in the Spring of 2019 and will target sales to consumers, installers, electricians, builders and strategic partners.