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Intamac secures £2m from Chandos & Seraphim

Chandos Fund managed by YFM Private Equity & Seraphim Capital invest £2m in Intamac a web based home control solution company.

The company is led by its founder CEO, Kevin Meagher, who won a Ruban d’Honneur for Entrepreneur of the Year at European Business Awards. He said: “Our business and industry have seen a dramatic spike in interest from both partners and consumers alike over the past year.

“This funding gives us an excellent basis to further grow our business, developing innovative and integrated solutions for home security, energy management, video, social care and remote control . In these difficult economic times, it’s great to have Seraphim Capital and Chandos Fund backing our vision for, and recognising the potential of, the fully connected home.”

James Bruegger, investment director at Seraphim Capital said: As broadband has become commoditised, telcos around the world are now desperate to find new products and services to try and shore up declining revenues and combat churn.

“Having already been proven to reduce churn with some of the world’s leading telcos, Intamac’s technology is perfectly aligned with these needs. This is why we believe Intamac’s home monitoring and energy management products could be the killer apps that telcos have been looking for.”

Previous Investors include Octopus Investments, Catapult, London Seed Capital, Pace.

Founded in 2000 Intamac Systems is a market leader in the deliver of Services to the connected home. They offer a web-based platform that can integrate a range of products and services into a single, simple interface called the Home Manager.