Home sweet home tech

UK-based smart home products company focuses on Houston growth

United Kingdom-based smart technology company, Hive, chose Houston as the city to grow its United States presence. Photo courtesy of Hive

Hive, a smart product company with headquarters in the United Kingdom, has zoned in on Houston for growth in the United States. Drawn to the city's diverse population and tech growth, the company also has a preexisting connection to Direct Energy, which has a large footprint in Houston.

The two companies are connected under the umbrella of parent company Centrica, which is also based in the U.K. Most recently, the company appointed Leah Barton as North American Commercial Director to serve in the Houston office as of June 2019.

Barton tells InnovationMap that she feels Houston is increasingly becoming an innovation hub.

"We know we've got the technical talent, we've got people who are interested in technology, whether it's from the medical angle, energy angle, aerospace angle," she says.

Hive has been in Houston since 2017, but recently, especially with the appointment of Burton, the company has amped up its Houston presence.

"We're looking for solutions that engage the whole home, so in the 21st century a smart home is a key component of whole-home energy management and comfort management," says Barton.

In May 2019, the company launched security product packs into the Houston market. These packs combine a number of Hive products, including an indoor package, and outdoor package, and a combination pack. The packages include a camera, a light monitoring system, and sensors for doors and windows to capture any activity.

"Those very much had a home automation component to it, but also a peace of mind component," says Barton.

Hive plans to bring the smart products that have done well in its U.K market to its United States markets, including Houston. These products would be focused on ensuring air conditioners, heating units, boilers, are working correctly.

"We've been testing this air conditioning proposition with some of our home service providers within the broader Direct Energy network, that's what we're most excited to launch in the second half of the year," says Barton. "This air conditioning diagnostic product will give people advance warning if their air conditioning is going to run into trouble and will let them address it before it's too late and they are in a 'no cool' situation."

The Houston office is located in Greenway Plaza and the company currently has 25 employees in the United States, most who are based in Houston. Globally, Hive has a team of 500.

The companies most popular product is the smart thermostat, the product which the company was founded around and has remained a top seller. According to the website, the thermostat can be controlled from the user's smartphone. Through the Hive app, which launched in 2013, users can set daily schedules for the temperature as well as turn the unit on and off.

"Over time we've expanded that, we sell our own smart plugs, bulbs, sensors," says Peter Filcek, business development director for Hive. "Customers said they wanted more so we launched absolutely beautiful cameras about two years ago."

"Everything that we have brought to market, everything that we've built, is based on a real deep understanding of the problems and needs that our customers have," Filcek tells InnovationMap.

Hive products are available online anywhere in the United States or Canada.


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Building Houston

 
 

Molecule has closed new funding in order to focus on the energy transition. Photo via Getty Images

A Houston startup with a software-as-a-service platform for the energy transition has announced it closed a funding round with participation from a local venture capital.

Molecule closed its $12 million series A, and Houston-based Mercury Fund was among the company's investors. The company has a cloud-based energy trading and risk management solution for the energy industry and supports power, natural gas, crude/refined products, chemicals, agricultural commodities, softs, metals, cryptocurrencies, and more.

"We led the seed round of Molecule upon their formation and are excited to participate in their series A," says Blair Garrou, co-founder and managing director of Mercury, in a news release. "Molecule's success in the ETRM/CTRM industry, especially in relation to electricity and renewables, positions them as the company to beat for the energy transition in the 2020s."

The company will use its new funds to further build out its product as well as introduce offerings to manage renewables credits, according to the release.

"In 2020, we realized that electricity — the growth commodity of the 2020s — represented over half of Molecule's customer base, and we decided to double down," says Sameer Soleja, founder and CEO of Molecule, in the release. "We were also rated the No. 1 SaaS ETRM/CTRM vendor. With this fundraise, we have the fuel to become No. 1 SaaS platform for power and renewables, and then the market leader overall.

"Molecule is ready to power the energy transition," Soleja continues.

Molecule's last round of funding closed in November 2014. The $1.1 million seed round was supported by Mercury Fund and the Houston Angel Network.

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