Zstat, a Cambridge-based wireless thermostat startup that bills itself as a cheaper alternative to the thermostat made by Nest Labs, on Wednesday launched a crowdfunding campaign to raise $125,000.
Zstat’s main thermostat product retails for $75 and allows users to change the temperature and set a temperature schedule remotely with wireless and Bluetooth technology. The average homeowner can save between $40 and $400 annually by using Zstat, according to the company’s website.
The thermostat connects to a smartphone using Bluetooth Low Energy technology. It is low-power and doesn’t have a liquid-crystal display (LCD), making it cheaper than Nest’s product, according to CEO and co-founder Christian von Stackelberg.
“You lose the LCD screen with my product, but you gain a major advantage with lower power, so it doesn’t need to recharge as often and it won’t has as many problems,” von Stackelberg said.
California-based Nest Labs, which was acquired by Google Inc. earlier this month for $3.2 billion, sells its Nest Learning Thermostat for $249.
The Zstat aims to give users a faster return on investment because it’s cheaper, von Stackelberg said.