Funding and Product Update
Dear friends,
When we founded Hygge Power in September ’16, our vision was to make every home a smart home, to reduce carbon emissions, and to provide peace of mind that your home can remain connected — and cozy — during severe power outages. We are very excited about our continued success and look forward to reaching our next goals for Hygge Power.
Let me quickly share our progress with you:
Funding
After an extremely successful pre-seed round in 2017, we expect to secure our seed round funding by end of Q1 2018. We will send specific funding details to investors in the coming weeks.
Patents
Thanks to the work of our extraordinary team, we filed three patents related to our flagship product, Orchestrated Power Outlet (OPO). OPO is an intelligent power storage device and smart plug we believe will fundamentally transform how we power our homes.
OPO Alpha Testing
Beginning in Q2, we will deploy OPO into a variety of homes and businesses to further test functionality, user experience, and cost- and energy-saving features. If you are interested in participating in this trial, please let us know!
Growth
In a few short months, we have grown our company six-fold. Our incredible 12-person team is committed to developing a smartphone-enabled, energy-saving product that puts the power in the hands of the consumer.
Early in the new year, our team had the opportunity to attend the 2018 Consumer Electronics Show (CES) in Las Vegas. One of our key takeaways from CES was that 2018 is undoubtedly the “Year of the Smart Home,” a home equipped with lighting, heating, and electronic devices that can be controlled remotely by sensors, smartphone or computers. With companies like Amazon, Google, and now Apple entering the competition for virtual personal assistants, the need for products like OPO has never been greater.
Of course, we were able to reach these achievements through a lot of hard work, engineering and ingenuity in 2017. Highlights include acceptance and graduation from the prestigious Boomtown and Upramp accelerators, and we placed second in the Boulder Beta tournament. We successfully closed our pre-seed funding round, which enabled us to demonstrate proof of concept and develop a prototype OPO unit. And finally, I cannot help but be reminded how lucky we are every single day to be part of such an amazing startup ecosystem here in Boulder, Colorado.
These last four months have reminded me that starting a company is hard, but with vision, mentorship, determination and sense of community, anything is possible. Thanks to all of you who have been so instrumental in our continued success. We cannot wait to share the next success stories and hurdles for Hygge Power.
Sincerely,
The Hygge Power Team