Hyderabad: Hyderabad-based SucSeed Indovation Fund has invested in SaaS-based physical security and smart buildings startup Spintly along with other investors like Riso Capital from Silicon Valley, Chicago-based Nikhand Investments, and Keiretsu Forum angel network.
Overall, the startup that enables frictionless smartphone-based door access has raised Rs 4.6 crore in an extended seed round of funding.
Spintly was founded by Rohin Parkar and Malcolm Dsouza in late 2017. The company believes that their Access Control as a Service (ACaaS) platform has a huge potential to enable use cases in smart buildings, as smart buildings move towards wireless infrastructure.
Rohin Parkar, co-founder and CEO, Spintly, said, “We will utilize 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.”
“Security and RegTech is one of the six focus areas of SucSeed Indovation Fund and we found Spintly’s tech solution quite fitting to the growing segment of smart buildings and smart living. Collaboration with supporting ecosystem could be a key factor in their growth strategy,” said Vikrant Varshney, managing partner of SucSeed Indovation Fund.
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