Amazon Dash Rival Kwik Raises $3m for IoT Commerce

kwik iot commerceAmazons Dash buttons, which connect to home wi-fi and enable consumers to order specific products (usually from FMCG brands) with a single push, have become increasingly popular, with Amazon expanding the range to include over 100 products, from batteries and cat litter to snack foods and condoms.

Now, Israeli-based IoT firm Kwik thinks that the market for smart home commerce products has grown large enough for a competitor, and has raised $3m (£2m) in investment to launch its own range of instant-order buttons.

The funding round, led by Norwest Venture Partners, will help the company move beyond its beta-testing in Israel and expand to the US market. The company has already secured brand partners including Dominos, Budweiser and Huggies, and lets brands choose their delivery and payment partners, offering more flexibility than Amazons system.

“Consumers like the convenience and simplicity of smart buttons,” said Sergio Monsalve, partner at Norwest Venture Partners, in an interview with TechCrunch. “This market is too big for only one player. [Kwiks] open ecosystem will enable the growth of many businesses, all along the supply chain.”

The buttons are provided free to consumers, with Kwik taking a cut from each transaction, as well as acting as a liaison between the delivery and fulfillment partners. The firm believes that the smart home commerce market could expand to include any product which is a repeated service, even encompassing services like ordering a taxi, and could be especially popular with older, less internet-savvy consumers who struggle to navigate apps and appreciate the simplicity of simply ordering with a tap.

Whether Kwik can expand its service quick enough to challenge Amazons existing Dash network will largely depend on the brand partnerships it secures, and whether its flexibility appeals more to other companies than Amazons end-to-end approach.

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