Nest raises funds for smart thermostat

Mon Oct 31 2011, 22:06 PM
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Nest Labs has raised an undisclosed amount of equity funding, rumoured to be around USD50m, from investors including Kleiner Perkins Caufield and Byers, Google Ventures, Shasta Ventures, Intertrust and Generation Investment Management. The Californian firm, which has been operating in stealth until recently, is developing a smart thermostat and was founded by a former VP at Apple’s iPod and iPhone division.

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