Drop Raises €12m For Kitchen Technology

10 Jun 2020 | 09.47 am

Drop Raises €12m For Kitchen Technology

Android co-creator joins software company board

10 Jun 2020 | 09.47 am

Dublin software company Drop has raised nearly €12m ($13.3m) in a funding round led by Alpha Edison and Morpheus Ventures and including Act Venture Capital.

The funding round also sees Alpha Edison partner Steve Horowitz join Drop’s board. Horowitz led the engineering team that created Android.

Founded in 2012, Drop initially developed a weighing scales that connected with an iPad to automatically manage recipe ingredients. Drop has since pivoted to developing operating system software that smart kitchen appliances can connect to. The software can then adjust portions, manage temperatures and other appliance settings based on whatever recipe is being used.

The business has yet to turn a profit – operating company Adaptics Ltd booked a loss of €4m in 2018, bringing accumulated losses to €8.4m, according to its most recent account filings.

Drop has secured a number of partnerships with appliance makers to use its software, including Bosch, LG and Electrolux. The business is headquartered in Dublin and has offices in San Francisco and Zaragoza.

“In the same way Android armed an industry to compete in the smartphone game, Drop is primed to be the platform that all brands operate on, fundamentally changing the way we use technology in the kitchen,” said Horowitz.

Drop CEO Ben Harris said that his company’s platform marries kitchen appliances and recipes into a “magical, connected experience”.

“Kitchens need Drop – they are a mix of motors, sensors and heating elements, with wildly different interfaces, and recipes written in a 100-year-old format,” Harris added.

Photo: Drop CEO Ben Harris (right) with colleagues (left to right) Chris Fleming, Nicolas Nikolov and Mark Wheatley. (Pic: RollingNews.ie)

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