Evansville Engineering Firm Acquired by HomeValet
Evansville-based Envolve Engineering LLC has been acquired by a Virginia company that specializes in home delivery smart appliances. HomeValet acquired the engineering firm although financial details were not disclosed.
HomeValet developed a SaaS platform, consumer app, and smart appliance designed to allow packages to be delivered and placed in an unattended, locked appliance.
Envolve specializes in refrigeration engineering and appliance design. It was started in 2013 by a group of engineers who formerly worked for appliance maker Whirlpool Corp. (NYSE: WHR)
The two companies have worked together for over two years developing its next-generation home delivery platform technology.
“Engineering’s team has had a hand in developing home appliance products for some of the largest refrigeration brands in the industry,” said Jack Simms, HomeValet co-founder and chief operating officer. “We’re thrilled to have these seasoned innovators join the team as we look to introduce our first IoT smart box product to the market and reimagine the current e-commerce delivery supply chain.”
The company says the smart-box appliance can accept durable goods or refrigerated groceries at American homes.
HomeValet says the contactless, home delivery subscription system will be offered to the market this fall.