Williams backs home security firm Boundary
Raising funds: Robin Knox and Paul Walton
Skyscanner co-founder Gareth Williams has pumped £1.5 million into Scottish home security start-up Boundary Technologies – his biggest angel investment to date.
Mr Williams’ backing is part of £3.7m raised to scale up the Edinburgh-based start-up which launched its first product in March. The balance of the funding came from existing shareholders Scottish Enterprise and Equity Gap.
Co-founders Robin Knox & Paul Walton and chairman, Richard Lewis, are also investing a substantial sum of their own money each in this investment round.
The funds raised will be used to expand the business over 18 months as it looks to a more ambitious investment round in the future.
Part of the expansion involves developing Boundary’s local crime information sharing network, with the additional benefits of leveraging data streams from any connected Boundary alarm system.
Gareth Williams: biggest investment
Boundary is immediately doubling its team from 9 to 18. Three of these will be responsible for the delivery of the network, while roles in design, development and community management are also being filled.
Amid expansion, Boundary’s primary focus this year centres around the growth of the alarm system, while the development of an AI camera system will continue.
Mr Knox, CEO said: “This is hugely exciting news and is a change of trajectory from our original, more modest ambitions – we are now set on the path for Boundary to become a top-tier European home security business.
“To have someone with the calibre of Gareth giving our product his backing and mentorship is incredible; we have massive plans for the future.”
Scottish Enterprise has been a supporter of Boundary from an early stage, providing the company with advice and grant support in addition to investment.
Jan Robertson, interim director of Growth Investments at Scottish Enterprise, said: “Bringing Gareth on board is a boost for Boundary’s founders whose proven entrepreneurial track record has been a major factor in the remarkable growth enjoyed by the business already.
“We look forward to continuing to work with the company as it develops its products, attracts further investment and breaks into new markets.”