Spintly Raises $2.5 Million in pre-Series A Round  

by Kay Aloha Villamor in November 11th, 2022

Spintly, a San Jose, CA-based SaaS-based physical access control and smart buildings startup, raised $2.5M in a pre-series-A round of funding.

Investors in the round include Lets Venture, Accel Nest, SucSEED Indovation Fund, Riso Capital, Defang Technology, 91ventures, Kyto Technology, and Life. Some notable angel investors include Dheeraj Pandey, co-founder, and CEO of DevRev, among others.

The funds will be used to focus on its growth in the global market, specifically the USA, and strengthen its R&D capabilities.

Spintly plans to expand into new market segments like education, residential, data centers, enterprise, and government.

“We are really proud that our team has built a strong, lean, and sustainable business surviving through the pandemic and the recent global economic turmoil. We are much stronger now, and this capital will help us scale, penetrate deeper into the market, and expand our offerings to various market segments. Our investors have been very supportive throughout our journey, and we are extremely excited to see them doubling down in this round,” said Rohin Parkar, Co-Founder and CEO of Spintly.

Spintly offers a frictionless, fully wireless, smartphone-based physical access control solution to commercial and residential buildings.

Company: Spintly, Inc.

Raised: $2.5M

Round: pre-Series A

Funding Month: November 2022

Lead Investors: 

Additional Investors: Lets Venture, Accel Nest, SucSEED Indovation Fund, Riso Capital, Defang Technology, 91ventures, Kyto Technology and Life, and Dheeraj Pandey 

Company Website: https://spintly.com/

Software Category: SaaS-based Physical Access Control and Smart Buildings

About the Company: Started in 2018 by Rohin Parkar and Malcolm Dsouza, Spintly launched its first products in early 2020. Spintly is a SaaS-based physical access control and smart building startup that uses wireless mesh and cloud technologies. Spintly delivers a truly wireless, cloud-based access control platform for a seamless user experience and eliminates the need for key cards and elaborate wiring for access control. Spintly’s hassle-free and contactless user experience makes it an ideal COVID-19 solution. Headquartered in Silicon Valley with offices in India and backed by institutional venture capital firms and angel investors, Spintly’s vision is to simplify the built world.

Source: https://www.businesswire.com/news/home/20221110005746/en/Spintly-Raises-2.5M-in-a-Pre-Series-A-Round-of-Funding

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