From brainwave reading headsets, fashionable smart watches , bluetooth heart rate monitors and iPhone controlled toys, Grand St., an online marketplace for independently-made electronics wants to provide consumers a central hub for the new era of gadgets. The New York based startup recently raised $1.3 million in new seed funding.
Founded earlier this year by Amanda Peyton, Joe Lallouz and Aaron Henshaw, Grand St. is named after the street in Brooklyn where the team collaborated in a coffee shop, according to VentureBeat. So far, the site sells different gadgets every week and picks going through design and technology blogs. Each product is tested and approved by the team to provide high quality technology.
“Consumer electronics is a dated term right now. The industry is going through a fundamental change because of the rise of indie electronics,” said Amanda Peyton to The New York Times.
The company’s focus on innovative products led them to sell the Neurosky’s MindWave Mobile , a brainwave reading headset which provides users the ability to play hands-free games, train their brains and monitor brainwave changes when experiencing different emotions. Peyton told VentureBeat, “the future of creative technology belongs to independent inventors, and we feel privileged to have the opportunity to work with such talented creators.”
First Round Capitol with the participation of David Tisch’s BoxGroup, Gary Vaynerchuk, Betaworks, Collaborative Fund, MESA+, Quotidian Ventures, and Undercurrent provided the new funding, according to VentureBeat.
One of the investors, Gary Vaynerchuk said he is completely convinced “that hardware is the next ‘thing’ so being able to be associated with such a passionate team and leader in such an interesting marketplace becomes a no brainer.”
Grand St. is currently in a beta phase. It is invitation-only, with invitations being sent only to interested buyers. Peyton told The New York Times that the strategy is to effectively manage its inventory and prevent overhead. “We’re looking at social activity and the velocity of sales to determine how many items we think we’ll sell,” she said.