The startup says its revenue has grown by 500% in 2022 compared to 2021 and has more than 100,000 users on the platform. Its products are adopted by co-working spaces, managed commercial office spaces, and small to medium-sized enterprises. The adoption of Spintly products increased in the post-pandemic phase due to the increased need for contactless and cloud-based solutions.
It offers a frictionless, wireless, smartphone-based physical access control solution to commercial and residential buildings. Started in 2018 by Rohin Parkar and Malcolm Dsouza, Spintly launched its first products in early 2020. So far, the startup has raised $3.5 million. Spintly will use these funds to focus on its growth in the global market, including the US, and strengthen its R&D capabilities. The round saw participation from Lets Venture, Accel Nest, SucSEED Indovation, RiSo Capital, Defang Technology, 91 Ventures, Kyto Technology and Life, and a few other notable angel investors and groups, including Dheeraj Pandey, Co-founder and CEO of DevRev, and former Founder and CEO of Nutanix. SaaS-based physical access control and smart buildings startup Spintly has raised $2.5 million in a pre-Series A funding round. IoT tech startup Spintly raises $2.5M in pre-Series A round The technical collaboration will help unlock its potential in smart connected consumer technology in Indian homes. Up is part of Qualcomm’s 2022-23 accelerator programme through the Qualcomm Design in India Challenge (QDIC).
The device used at nearly 250 Bengaluru homes features a cutting-edge touch screen with unlimited in-built guided recipes, coupled with a jar that heats and cooks and offers controlled chopping, stirring, and other culinary functions.
The startup will utilise the capital to execute its go-to-market strategy of ‘upliance’-delishUp.
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