Chameleon Smart Home secures HUF 700 million investment
With funding from Hiventures, part of the MFB Group, Chameleon Smart Home—developer and installer of system-independent smart solutions for properties—is preparing a revolutionary innovation.
The company is building and further developing a “bridge” software and digital system that connects smart homes with smart residential buildings. At the same time, Chameleon is gradually shifting toward wholesale operations, which promise higher returns.
Connecting smart homes and smart residential buildings
Chameleon Smart Home is developing a system that allows users to control their smart devices simultaneously, regardless of manufacturer. This globally unique solution—presented at the Dubai World Expo—will be further enhanced using a significant portion of the new funding. International interest is strong, and Hiventures’ investment could give the company the boost needed to meet rapidly growing demand.
The connection between the venture capital investor and Chameleon is not new. In autumn 2020, when the company was struggling due to the pandemic, it first received a HUF 150 million investment under Hiventures’ startup rescue program. Since then, Chameleon has successfully rethought its business model, and today it is not only participating in a standard financing round, but has also secured nearly EUR 2 million in funding—Hiventures’ second largest single startup investment within its growth program.
“We have leveled up startup financing, allowing us to invest up to HUF 1 billion even in early-stage ventures without co-investors since 2021. Chameleon is a strong confirmation that we are on the right track. The earlier round laid a solid foundation for this capital increase,” emphasized Hiventures CEO Bence Katona.
From B2C to B2B
The size of the investment reflects both the company’s growth potential and that of the smart home device market. According to Statista, revenues in the sector are expected to grow 4.5 times between 2017 and 2025—from USD 40 billion to 180 billion. From an investor’s perspective, now is the right time to enter, as the sector is clearly on an upward trajectory.
Part of Chameleon’s strategy is to gradually pivot from retail (B2C) to wholesale (B2B) operations, which promise not only higher revenues but also lower costs. The company already collaborates with numerous contractors and wholesalers, and this network is set to expand further.
One app for the entire residential building
According to Péter Szarvas, the key advantage of Chameleon’s solution lies in its simplicity: residents of apartment buildings can access services and manage their smart homes through a single app. “With Chameleon, all the smart devices in the apartment—and even building-wide functions—can be easily controlled. No need for dozens of apps. Residents can adjust heating and cooling in stairwells, use the intercom or garage door, book an appointment at the hairdresser within the building, or pay common charges—all from one app,” explained Szarvas.
In a smart home, water, electricity, shading, cooling, and heating can all be controlled remotely. Smart residential buildings focus both on meeting residents’ individual preferences and on ensuring the most efficient building operations. As a result, residents can save up to 10% on costs, while convenience features also yield significant time savings.
