Technology firm grows revenues in smart home sector
Smart home technology company LightwaveRF has its eyes on growth after “a pivotal year” for the Birmingham business.
It launched new products onto the market and doubled its revenues, and chief executive Andrew Pearson is now looking forward “to building a great company in the rapidly growing smart home market”.
He said: “2017 has been a pivotal year for the Group. Having launched Generation 2 devices into the market we are now moving to pursue our goal of creating a scaled company able to compete with the major brands in the smart home market.”
LightwaveRF makes a range of products, including sockets, dimmers and control devices, that sit on a cloud platform and can be operated through an app.
Its system can also be operated using Google Assistant and Amazon Alexa voice control, is Apple HomeKit compatible.
Pearson added: “Consumer awareness and understanding of the benefits of smart home technology continues to rise, and our market opportunity is increasingly large.
“Our relationship with Apple is a significant asset that supports our growth in the UK and which should also allow us to enter international markets efficiently.”
LightwaveRF, which is based at the Innovation Birmingham campus, recorded a 110% increase in revenues, to £3.0m. It increased its investment in research and development while losses remained flat, at £850,000.
