Credit: Malia Spencer, Portland Business Journal
The money will allow the company to continue to expand its engineering team.
Iotas offers smart home technology for the rental market. Its hardware and software allows renters to create profiles — setting preferences for room temperatures or when to shut off lights — that move with them from residence to residence. The platform works with 30 devices per apartment and integrates with Amazon and Google home devices.
Other unnamed investors participated with Intel Capital, bringing the amount raised to more than $1.4 million, said Iotas founder and CEO Sce Pike. To date, through investors and government grants, Iotas has raised $6.5 million.
Intel Capital is Intel Corp.’s investment arm.
“This investment allows us to develop additional core capabilities in the Iotas platform, empowering us to deliver additional forward-thinking features and benefits to the multifamily housing community,” Pike said in a written statement.
The company will add to its growing staff: It has openings listed for software development, marketing and customer support.