(Press Release) Space Monkey today announced that the manufacture of its 1TB cloud storage devices will move from Shanghai, China to facilities in Guadalajara, Mexico. The move enables efficiencies of communication, travel and shipping for the Utah‐based company, and is expected to lower overall manufacturing costs. In tandem, the company announced a new round of funding led by Alta Ventures Mexico, which will help fuel growth of the service internationally.
“Moving manufacturing to Mexico makes business sense. Competitive pricing, simpler logistics, quality labor, and reduced shipping costs all combine to make this choice a no brainer,” said Clint Gordon-‐Carroll, CEO of Space Monkey, Inc. “We highly value our manufacturing partners in China, and will continue to work with them for the production of many components that go into our device, but look forward to tighter ties with Mexico, both through this manufacturing move and through investment from Alta Ventures.”
Space Monkey will use this opportunity to build a strong trade partnership that will help Space Monkey achieve greater scale in delivery of their ground-‐breaking distributed, cooperative storage network by leveraging the expertise of Mexican manufacturing and investment focusing on Latin America. “With Alta Ventures on board we expect to accelerate adoption of our service in Latin American markets and beyond,” said Gordon-‐Carroll.