Prop-tech Startup, Spintly Raises Rs. 4.6CR Funding
SaaS based Physical security and proptech start-up Spintly, has raised Rs. 4.6Cr in an extended seed round of funding. This round of investment was led by Silicon Valley based Riso Capital, along with SucSEED Indovation Fund from Hyderabad, Chicago based Nikhand Investments LLC, and Keiretsu Forum angel network. Spintly provides SaaS based physical security solutions which enable frictionless smartphone-based door access, eliminating the need for key cards and elaborate wiring for access control and is one of the few start-ups in the country operating in this space. Brigade REAP, the first Proptech accelerator in the country and one of the top accelerators in the world has played a vital role in the growth of Spintly, having mentored the company. Rohin Parkar, Co-Founder and CEO, Spintly, stated “We are extremely bullish about the future and are determined to transform the entire physical security and smart building ecosystem. We will utilise these funds to boost sales, marketing and research activities in order to enhance our position as pioneers in the wireless cloud-based access control technology space. We offer the world’s first fully wireless mesh technology for access control which can also be used for smart building applications. We are humbled at raising a round of funding during COVID19 and since then have been witnessing a steady growth in demand for contactless door access solutions. This is certainly an indication of trust from our customers and investors”.