Wednesday, March 7, 2018

Amazon is backing Ecobee, a smart thermostat company, just days after buying Ring

Smart thermostat maker Ecobee raised around $62 million (C$80 million) in a series C round of funding from investors including the Amazon Alexa Fund, the company told CNBC.

The deal comes just one week after Amazon acquired video doorbellmaker Ring in a deal reportedly valued at $1 billion. Amazon consequently made plans to stop selling competing products made by Google-owned Nest.

The post Amazon is backing Ecobee, a smart thermostat company, just days after buying Ring appeared first on Retailnewsfeed.com.

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