VC firms bet on growing smart home market

VENTURE CAPITAL FIRMS are increasingly betting on the smart home appliance market with startups like Beyond Appliances, Upliance, AroLeap, On2Cook, DrinkPrime, Aurm, and Karban securing funding in recent months.

- S SHANTHI

For years, the adoption of smart home technologies—connected lighting, security systems, and kitchen appliances—remained low in India compared to the US and China, where startups in the segment have long received significant funding. Indian VCs had largely stayed away due to concerns over product-market fit. Before Covid, around 30 startups in the space shut down due to a lack of traction. However, post-pandemic, the scenario has changed as investors see a growing market for smart appliances.