Backed by Electrolux, Mila raises at a $52M valuation to add smarts to fresh air

Backed by Electrolux, Mila raises at a $52M valuation to add smarts to fresh air

Three years ago Mila It was a great success! on Kickstarter Its smart air purifier. The company designed an air cleaner that could be used for different purposes (and at different price points) and included a wide range of sensors. The San Francisco-based company today announced that it has closed a $10 million Series B to clean the air for more people.

Electrolux was the only person who led the seed round. Mila claims that it was Electrolux’s first startup investment. Mila’s $10m Series A was led and managed by Cercano Management, a former venture arm of Paul Allen’s investment firm. The company claims it will use the money to hire, scale operations and expand its product portfolio in order to meet the global demand for better indoor air quality. Mila Halo, a smart humidifier, is also planned.

According to the company, the company raised its $10m round in an all equity deal at a $52m post-money valuation. According to the company, the new valuation represents a 3x increase in value over the seed round it held the year before.

We are on the cusp a great “air awakening” as the quality of the air we breath becomes more important to families. The products that families turn to for information on whether they are working often don’t provide any insight. Mila allows families to monitor and control their indoor environment quality easily,” Grant Prigge (CEO and co-founder of Mila) said in an interview with TechCrunch. “This investment
We will be able to meet increasing demand and continue to create thoughtful, beautiful experiences that improve our homes’ health.

The company operates in a highly competitive market. It is not like there are a shortage of air purifiers. However, the company’s clever and cute design and ability to use multiple filters depending on the needs sets it apart from its competition. The app is excellent in reporting particulates (PM1,PM2.5, PM10), humidity and temperature, volatile compounds, (TVOC), CO.2 CO. This data is used by the purifier to scrub the air more intelligently. The purifier can run the fans at a slower speed if they aren’t needed, or at full blast if there are any nasties to be removed from the air.

Grant Prigge is the CEO and co-founder of the company. We asked him for some more information. This interview has been edited for clarity, length, and clarity.

TC: Who are your lead investors? What has it been like working with them so far.

Grant Prigge: Mila’s passion project was funded by a few hundred thousand dollars from angel investors. Electrolux, the world’s largest appliance manufacturer, became its first institutional investor. Mila was Electrolux’s first venture investment during its 100-year history.

Mila’s second round was led by Paul Allen’s Vulcan Capital. After launching the largest crowdfunding air purifier launch, with over $1.5 million in preorders. Cercano Management, a venture spinoff from Vulcan Capital and one of the most important consumer goods manufacturers in the globe, led our Series A.

Many people warned us against working with large corporate investors. But they’ve been some great partners, providing thoughtful feedback and supporting us along the way. We’ve been able punch well above our weight with Electrolux’s support, especially when it came to navigating the supply chains challenges of the past few decades. We see the same synergy with our new investor in marketing and branding as Mila is brought to millions of homes around the world by our new investor.

What is the purpose of a fundraise? What is the purpose of the fundraise?

This fundraise will allow us to grow our team and meet growing demand for Mila’s award-winning air purifier. It will also allow us to expand the product range with products that improve indoor and outdoor health. We are thrilled to announce Mila Halo, the first humidifier that can be used with tap water. This is thanks to Halo’s water filtration system. In 2022, Halo received a CES Innovation Award.

It is the combination of a growing number of hardware solutions and an air quality control system that is becoming smarter by the day. Mila is our belief that it will be the Home Health Operating System (HOS) of the future.

What is the long-term vision for the future?

Our mission is to bring back every family from airblivion To create a healthy home for the future. The single greatest environmental threat to human health is the quality of our air. Every year, 7 million people die from early death due to dirty air. This is more than AIDS, diabetes, and traffic accidents.

The past two years have shown how little we know about air quality. Consumers are becoming more aware about how important their home environment is for their health, but they lack the tools to make changes. 91% of consumers now know how air quality affects their health. However, 69% don’t know how to fix it.

Mila plans to solve that. Mila intends to solve that problem. Indoor air quality (IAQ), is a $16 million market. We want to be the dominant brand and make every home a healthier place.

What is Mila Cares and why are purifiers being given away for free?

We were blown away by the letters that our customers wrote about Mila’s purchase. It was bought by spouses for their allergic husbands, girlfriends for their boyfriends, and dads for their young children with asthma or other autoimmune issues. These thoughtful notes and stories were a source of inspiration and humility for us. They showed that people bought our products to improve the health of their loved ones. It was clear that compassion and care should be a core pillar for our brand (hence the name “Mila Cares”)

Mila Cares is one way we do this. Any customer can nominate someone who needs clean air. Any member of the Mila Team can also give out a Mila cares package. It must have touched them in some way. Sometimes it’s a smile, sometimes a tear. The nominee receives a surprise Mila Cares package, almost always with a Mila air purifier and a personal letter from ours.

We’ve distributed more than 100 Mila Cares packages to date. It allows us to recognize deserving air-breathers in the communities that we are fortunate to be a part in a meaningful manner.

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