Speaking to Fairfax Media, entrepreneur Phil Bosua said that a chunk of the money raised would go towards hiring engineers, marketing, and salespeople to help ‘create the best Internet of Things company in the world'.
Although he wouldn’t give much detail about his smart switch, Bosua revealed that it will have rechargeable batteries that last between six and 12 months, and use Wi-Fi to connect to lamps and other devices in the home. The switch will have an open API, allowing developers to make additional apps, potentially turning the switch into a volume control for a Sonos speaker. ‘It could also open and close blinds and alert you if someone's at your door,’ Bosua said.
He added: ‘If you were building a new house you would save almost 50 per cent on copper costs just because you’re not running wires down to switches.’
Bosua's company is known for selling the LIFX, a Wi-Fi enabled, colour-changing LED lamp that can be controlled with an iPhone or Android smartphone.