Consumer electronics developer Netatmo has successfully raised EUR30 million in a funding round led by Legrand, a specialist in electrical and digital building infrastructures.
Existing investors Iris Capital, Ambition Numérique and Pascal Cagni also participated while Fred Potter and Netatmo’s other founders remain majority shareholders.
“Thanks to the quality of our products and our ability to conquer new markets, our turnover is constantly growing in our home market and internationally,” says Potter. “These outstanding results prove the relevance to our approach and the excellent capability of our teams. We welcome Legrand as our new investor and are very proud to have our historical shareholders renew their confidence in our brand and products. This new capital increase will allow us to accelerate our global growth and continue developing highly innovative devices for the Smart Home.”
