Learning thermostat maker Nest has closed on $80 million to keep growing, and we’ve heard it’s shipping 40K to 50K thermostats per month. The round was raised at an $800 million valuation and the company could reach a million per year shipment rate by the Summer.
Nest is also standing strong against Hollywell.
Honeywell’s suit is a misuse of intellectual property intended to harass Nest Labs and interfere with its commercial activities and relationships. Consistent with Honeywell’s pattern of past behavior, Honeywell’s motives are clear from a review of the merits and scope of the patents selected by Honeywell. Honeywell wants to use this lawsuit to scare a new competitor—and its customers, retailers and installers—out of what Honeywell believes is its space. But it will not work.
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