Ori Living gets $20 million funding led by Alphabet’s Sidewalk Labs
Ori’s Robotic Furniture and Interiors Can Shift to Optimize a Small Living Space
Ori Living aims to alter the living space of consumers to maximize their living conditions. In the picture above, a bed that concealed in the ceiling is lowering itself down to the floor. At night, the living room space easily converts to a bedroom.
Optimization of living space in smaller dwellings will be crucial in increasingly overcrowded cities. Further, according to UN estimates, by 2050, two-thirds of the world population of 10 billion people will live in cities.
Ori, a Boston-based start-up, makes furniture that is compact, portable, and concealable within a small living area. Its space optimization solutions are useful to homeowners, builders, and interior decorators.
Ori Living and Its Latest Funding Round
The robotic furniture start-up said last week it had raised $ 20 million in a Series B round of funding led by Sidewalk Labs.
Sidewalk Labs is Alphabet’s urban infrastructure and innovation subsidiary.
Other participants in the funding were IKEA franchisee Ingka Group, Khosla Ventures, and Geolo Capital.
Ori announced in June it had teamed up with IKEA to develop ROGNAN robotic furniture for small space living.
“Instead of making the furniture smaller, we transform the furniture to the function that you need at that time,” said Seana Strawn. Seana is a Product Developer at IKEA of Sweden.
“When you sleep, you do not need your sofa. When you use your wardrobe, you do not need your bed.”
These products will launch in Asian markets in 2020.
About Sidewalk Labs
Lead investor Sidewalk Labs is a Google group company developing Toronto’s waterfront into a smart city. Meanwhile, the project is dubbed Sidewalk Toronto. This project ams to make Toronto the global hub for urban innovation.
Finally, it recently partnered with its parent and Ontario Teachers’ Pension Plan to invest in various projects in urban infrastructure.
Image Source: Oriliving
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