Mit einem Investment von 25 Millionen US-Dollar hat sich das Berliner Startup Smartfrog zusammen mit…
Smartfrog acquires majority stake in Canary
With an investment of 25 million US dollars, the Berlin startup Smartfrog, together with US investors, Canary (to test), the manufacturer and provider of security cameras from the United States has incorporated the bulk of. The Berlin startup has thus secured the majority of its US rival from New Yorker.
Combining the businesses of Canary and Smartfrog makes it possible to leverage the resources of both companies, the teams, their expertise and the complementary distribution channels to jointly expand their business in both the US and Europe. Smartfrog continues to see great growth potential for smart IoT solutions. With a market share of around 16 percent in Germany, a turning point has already been reached.
Suppliers like Netgear with Arlo Pro (for testing) or Google, the company Nest, offer similar camera solutions. Recently, Vodafone under the brand V-Home had brought a corresponding offer including camera and a software platform from Samsung in this country on the market.
Charles Fraenkl, Smartfrog CEO, will head the company in the future while Bob Stohrer, CMO of Canary, will be responsible for New York-based activities. Former Canary CEO Adam Sager will continue to work as an advisor to the company.