Neos Raises £1 Million in Seed Funding

Neos announced it has raised £1 Million in seed round, which values the company at £8.4 million. Investors include: EOS Venture Partners, a retired English football player you may know as Gary Lineker, and Richard King, the founder of telematics brokerage firm Ingenie, to name a few. The London-based startup, which is in beta mode, has recently partnered with Hiscox, to offer smart home devices and management tools to its home insurance policyholders. Think: Neos provides customers with connected devices such as motion sensors, smoke detectors, and smart moisture sensors, that are monitored 24/7, and controlled via an app, for the not-so-low monthly flat fee of £9.50 on top of the policy premium Hiscox charges. Bottom Line: Hiscox rarely filters insurance startups.