Click here to preview the new Fast Company

Want to try out the new

If you’d like to return to the previous design, click the yellow button on the lower left corner.

With New Funding, Nest Is Reportedly Valued At More Than $2 Billion

The home tech startup bringing us smart thermostats and smoke detectors is raising more than $150 million.

Nest, one of the firms at the vanguard of building a brain for your home with its smart thermostat, is close to raising more than $150 million, according to Kara Swisher—whose new site, Re/code launched yesterday. The funding, from Yuri Milner's DST Global investment body, will value Nest at over $2 billion. If completed, Nest's value will have almost tripled in less than a year.

The firm, helmed by former Apple bright spark Tony Fadell, has a new venture, a smart smoke and carbon monoxide detector.

Nest's backers include Google Ventures, which revealed in its end-of-year-figures that the smart thermostat had saved 1.2 billion kilowatt hours in 2013.

[Image courtesy of Nest]

Add New Comment