Arizona-based Internet of Things (IoT) security company Smart Armor has released Smart Cube, the world’s first Bluetooth-enabled portable locking system.

The security device can be attached to cabinets, drawers or doors and is controlled through an app and four-digit password or fingerprint. It can also be customised to be proximity-based, unlocking automatically when the connected phone is nearby.  Users can set up an unlimited number of user profiles, assign customised user locking privileges and receive notifications if someone is tampering with the lock.

Launched on crowdfunding site Indiegogo late last week, Smart Cube is available for a $69 pledge, or two for $99 through the early bird special. The retail price is set at $80-99 and it will be available on Amazon and other retailers early next year.

Capable of integrating with any smart home network including Nest, Kwikset and Philips Hue, Smart Cube’s early success – raising over 150% of its $50,000 goal in its first week online ­–­ reflects the growing consumer interest in connected home devices, explored in-depth in our CES 2016: Home Electronics coverage.

According to research from online statistics company Statista, the value of the global smart home market will reach $43bn by 2020 – nearly triple its value in 2014. To read more on the shift towards smarter homes and increasing consumer desire for tech-enabled friction-free living, see IFA 2016: Home Electronics and The Streamlined Self: DLD 2016.

Source: Smart Cube: IoT Security | Stylus | Innovation Research & Advisory