Zensys, developer of the internationally recognised Z-Wave wireless home-control standard, announced that it has received an investment from Panasonic. The consumer-electronics company joins existing Zensys investors including Intel, Cisco, Bessemer Venture Partners, Palamon Capital Partners and Sunstone Capital. Zensys will use the investment to expand its position in global home-automation and control markets.
“Panasonic looks forward to working with Zensys to enable consumers to enjoy the benefits of the smart home of the future today,” says Dr Paul Liao, Chief Technology Officer of Panasonic Corporation of North America.
Z-Wave wireless mesh-networking technology enables different devices in a home to communicate with one another, including lighting, household appliances, HVAC equipment, entertainment centres and security systems.
“The Panasonic venture team’s interest in Zensys is based on Z-Wave’s position as a leading technology and its impressive record in wireless home control. Z-Wave’s price enables manufacturers to bring this technology to the mass market,” explains Dilip Sampath, Venture Partner in Panasonic’s US Venture Group.
“We are extremely pleased to have received this strategic investment. We look forward to cooperating on several levels with this important global industry leader,” says Zensys Chief Executive Tony Shakib. “Everything points to significant growth in wireless home control and automation, and Z-Wave has a clear advantage in performance and time to market.”
