IoT tech startup Spintly raises $2.5M in a pre-Series A round led by LetsVenture, others
SaaS-based physical access control and smart building startup Spintly has raised $2.5 million in a pre-Series A funding round led by LetsVenture, Accel Nest, SucSEED Innovation, RiSo Capital, Defang Technology, 91 Ventures, Kyto Technology and Life.
The round was also attended by prominent angel investors and groups, including Dheeraj Pandey, co-founder, and CEO of DevRev and former founder and CEO of Nutanix.
Founded in 2018 by Rohin Parkar and Malcolm Dsouza, Spintly offers a smartphone-based wireless physical access control solution for commercial and residential buildings.
The startup plans to use the raised capital to increase its growth in the global market, including the US, and strengthen its R&D capabilities. It claims adoption of its products has grown in the post-pandemic phase due to the increased need for contactless and cloud-based solutions.
Spintly’s products are used by co-working spaces, managed commercial office spaces, and small to medium businesses.
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