NEW YORK — LinkBee, a technology company taking a radical approach to the smart home (Internet of Things), has closed a $6 million seed round co-led by Pegasus Capital Advisors and Loeb Enterprises. The funding will be used to accelerate LinkBee’s product development and team expansion in the Bay Area.
Founded in early 2015, LinkBee has rapidly grown, acquiring top level talent and developing cutting-edge hardware, despite revealing very little about their emerging platform.
“In a very short time we have assembled a truly world class team, one that is passionate about creating a meaningful and democratized smart home platform for the mass market. This infusion of capital is a testament to the impressive progress that our team has made and the unique approach that we are taking to this evolving market,” said Dr. Jason Slosberg, CEO of LinkBee.
While LinkBee is not yet disclosing details about their technology, their end-to-end system is centered around proprietary LED light bulbs and sensors. Leveraging environmental feedback and intelligent, self-learning algorithms, LinkBee’s bulbs operate symbiotically to enhance the home environment — enabling customers to live healthier and safer lives while saving money.
LinkBee emerged from a collaboration between Pegasus Capital and Loeb Enterprises. Both partners bring distinct domain expertise and influential portfolios to help overcome the challenges facing the smart home market — Pegasus Capital Advisors, a private equity group focused on investing in globally impactful and sustainable businesses, and Loeb Enterprises, a direct marketing leader and tech incubator.
“Our firm is passionate about investing in technology-driven businesses on the intersection of energy efficiency and health & wellness. LinkBee is a great fit with our deep experience in this space and is highly complementary to the rest of our portfolio,” said Joel Haney, Vice President at Pegasus Capital Advisors.
LinkBee plans to deploy their market-ready solution in select cities later this year and will launch nationally in 2017.
LinkBee was founded in 2015 and is headquartered in both Manhattan and Sunnyvale, CA.