Why smart appliances have venture capitalists hooked

Over the past 6-12 months, VC firms have backed about six startups with $1-4 million cheques

- Samiksha Goel

For consumer brands, smart appliances are the next big thing. And venture capitalists are looking to seize the day by betting on new companies making everything from smart chimneys and hobs to artificial intelligence (AI)-powered cooking assistants and internet-of-things (IoT)-enabled products.

Over the past six to 12 months, they have backed about half a dozen startups, including Beyond Appliances, Upliance, and Karban, with $1-4 million early-stage cheques.

While Beyond Appliances and Upliance are automating cooking functions through AI, Karban leverages CFD (computational fluid dynamics) technology and aerospace engineering to optimize the efficiency of airflow devices such as fans and air purifiers. On2cook, Alste Technologies and Keus have also raised funding to make kitchens smarter through technology.