Ring Security, a door bell security firm from Santa Monica CA US was initially funded by Alexa fund. Alexa fund is managed by Amazon, the fund was created to support the diversification of Amazon voice based ecosystem.
Now, Amazon acquired Ring security at a deal of close to 1 Bn USD. The Ring security is a doorbell with a camera, Motion sensor , two way voice communication and Wifi receiver/transmitter.
The solution works with mobile and web as a channel to connect. The have add on products that work with the ring as garage spot lights, motion sensors inside home, flood light, Spot light and Siren.
The USP of the product is ease of implementation and usage. The data collected are easily presented to the user in mobile and web portal form. The yearly subscription allows unlimited video recording, sharing , and alert triggers (with analysis).
Why Amazon needs to shell out 1Bn USD for this?
The Echo voice system needs more penetration, the enabling of security is a good entry point to make voice assistance into real meaningful use. The Ring can also be a major enabler for receiving online products, that are shipped to home.
How does this scenario , Work in India?
Security system has been dormant in India. Godrej security is more interested in creating vault rather than home monitoring and entry/exit security. But, this sector is picking up. Most of the security today are in human form. Having only a presence of a security personal as deterrent and ccTV has become a norm for commercials and residential community. For Individual households, require some cost effective and simpler solution. The solution needed may not be that costly as Ring (Door Ring is close to 200 USD and yearly maintenance is 30 USD / year). Having a two way voice, with motion sensor, and decent camera can be produced at far less price. With high internet penetration and mobile phone usage, the solution leveraging mobile apps with video sharing / recording will help in affordable security system.
We are evaluating some of the IndianCEO startups that are in security sector. We will share those use cases shortly on this space.