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7 startups to watch from Seedcamp London’s first Investor Day of 2014

Pycno

Pycno portal 730x410 7 startups to watch from Seedcamp Londons first Investor Day of 2014

It’s not the first time that I’ve said the Internet of Things is a terrible phrase, in fact it’s not even the first time this week, but aside of the awful, ambiguous wording, there’s one big problem – carrying out the vision is often impractical and expensive.

The idea of a fully automated ‘smart home’ might seem like a pipe dream, but Pycno wants to retrofit all your existing devices (lights, heaters, kitchen appliances, garden sensors etc) with its smart plugs to give all your dumb devices a touch more nous.

Simply giving your TV a fancy plug wouldn’t be much use though, so Pycno has also built a cool platform for managing devices remotely via an app. Better still, the company doesn’t want this to be another siloed, proprietary protocol-based ‘Internet of Things’ platform, so it’s using open source protocols in the hope that an ecosystem will build around it.

It’s admittedly early days, and though the company only started work on Pycno in December it’s already on its third hardware revision and is planning to release the first 100 beta units in the next two months. As of now, Pycno plans to sell the hardware at cost and make recurring revenue from the software platform, however, given that it’s still at such a formative state that could change. Funding models are rarely set in stone just a few months after you’ve started a project.

➤ Pycno

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