Smart home security startup Cocoon raises £2.46m on Crowdcube

Smart home security system provider Cocoon has raised £2.46m in equity crowdfunding on Crowdcube, drawing support from 1117 investors and reaching a $15m valuation.

The startup, which launched on crowdfunding site Indiegogo in November 2014 and went on to raise $250,000 (approximately £198,000), also attracted £2.69m in strategic investment from Aviva Ventures and Breed Reply as part of its Seed round last year.

In the past two years, Cocoon has expanded its team from the original five members to over 30 people based in Leeds and London. According to a statement, the funds...