Estonian Karma Ventures invested in a Swedish IoT startup Minut

Estonian firm Karma Ventures invested in a solution for monitoring short-term rental properties Minut. The €4,6M extended B round was backed by London-based VC and private equity company Smedvig Capital, US-based Almaz Capital, Swedish VC Zenith, Denmark’s VC Kompas, the Netherland’s KPN Ventures, San Francisco-based SOSV, Swiss investment firm Verve, and other existing investors. 

Founded in Sweden in 2014 by Nils Erik Mattisson and Martin Lööf, Minut designed sensors that monitor noise, occupancy, cigarette smoke, motion, and temperature in rental properties, helping prevent parties not agreed by the hosts and preventing property damages.

In 2023, Minut launched a new generation sensor that can monitor noise indoors and outdoors, and also a cigarette smoke detection sensor. Noise sensors monitor sound levels, and notify the host about their excess. The host can set his loud limit during and outside of quiet hours. He can also decide how long the noise should last before he gets a notification. 

The startup will use the investment to double down on product development and increase the team across Europe and the USA. In addition, the company will finance multiple product initiatives. 

In 2022, Karma Ventures participated in Minut’s €13M B round of investment.

Founded in 2016 by Kristjan Laanemaa, Margus Uudam, and Tommi Uhari, Karma Ventures is an early-stage venture capital firm, investing in late seed and A-series European startups. The firm injects up to €5M in the initial round and also makes follow-on investments in later rounds.