Spintly Secures Rs 3.5 Crore in Extended Seed Funding
Proptech startup Spintly has successfully raised Rs 3.5 crore in an extended seed funding round, with Spyre VC leading the investment. Other notable investors participating in this round include Accel India, Chakra Growth Fund, Alumni Ventures, and Doctor Technology.
The company previously secured $5.36 million from Letsventure, Riso Capital, Sucseed Indovation, and Accel Nest. The funding will be directed towards:
- Expanding its market reach
- Increasing its presence in various countries
- Enhancing senior management roles
- Broadening the capabilities of its smart building solutions through AI and machine learning
About Spintly
Co-founded in 2017 by Rohin Parkar and Malcolm Dsouza, Spintly harnesses advanced technologies to revolutionise building operations. The company provides:
- Wireless, cloud-based access control solutions
- Smart building systems
With a commitment to simplicity, scalability, and innovation, Spintly replaces outdated systems by employing:
- Internet of Things (IoT)
- Edge AI
- Smartphone-based technology
This approach aims to deliver seamless and efficient user experiences.
Integrated Solutions for Enhanced Operations
Spintly’s technology seamlessly integrates access control with the internal software systems of enterprise and property management companies. This integration allows clients to:
- Streamline their operations
- Enhance security measures
The platform features APIs and SDKs, enabling straightforward integration into third-party systems, making it an ideal choice for upgrading buildings into intelligent, connected environments.
Market Growth Prospects
Market research indicates that the global access control market is valued at USD 10.4 billion and is anticipated to reach USD 15.2 billion by 2029, reflecting a CAGR of 7.8%. Concurrently, the global smart building market is projected to expand from $78.28 billion in 2022 to $247.17 billion by 2032, growing at a CAGR of 12.3%.
Spintly has already made significant strides, with its solutions deployed across 24 million square feet of real estate, supporting over 0.5 million users and serving more than 500 customers worldwide.