Global private equity and venture capital news and research

Crowdsourced consumer product maker Quirky gets $79m VC, GE backing

13 Nov 2013

QuirkyCrowdsourced consumer products business Quirky has picked up another $79m through a Series D financing round led by GE.

Existing investors Andreessen Horowitz, Norwest Venture Partners, RRE and Kleiner Perkins Caufield & Byers also took part in the round, which saw GE take a minority stake in the business.

Quirky said the capital will be used to expand their partnership and co-develop and launch 30 new products in their connected home devices line over the next five years.

Together the partners will also accelerate and expand Quirky’s WINK platform, which attempts to make it easy for consumers to access a range of connected devices any time from mobile devices.

GE senior vice president and chief marketing officer Beth Comstock said, “Invention and manufacturing are GE’s lifeblood.

“We’ve been impressed by how Quirky opens and speeds invention and making, and we are excited by the response from major retailers and communities so far.

“As GE grows its core by connecting its brilliant industrial machines to the internet, we think it is important that consumers experience connected things in easy-to-use, everyday ways.

“The Quirky partnership allows us to re-invent our co-branded consumer products in delightful ways by opening up our brand to more ideas and new audiences.”

Copyright © 2013 AltAssets

Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: WeWork 4001, 1 Fore Street, London, EC2Y 5EJ
Content is © AltAssets 2000-2016