Wireless access control startup Spintly raises $2M in funding led by Accel, Doctor Technology, others

Spintly Inc., a provider of innovative cloud-based smart building solutions, has raised $2 million in an extended seed funding round led by a consortium of investors, including Accel, Doctor Technology, and the Chakra Growth Fund. 

Expanding in the U.S. market

The funding will help the startup expand its presence within the U.S. market, particularly focusing on enhancing sales, marketing, and partnerships.

Rohin Parkar, Co-Founder and CEO of Spintly emphasized the significance of the investment: "This infusion of funds is a crucial step forward, enabling us to scale our operations more effectively and broaden our product range across different market segments."

The startup also intends to expand into new market niches, such as enterprise, residential, data centres, and education sectors while introducing new features and products throughout the year.

Technological edge and market expansion

Founded in 2018 by Rohin Parkar and Malcolm Dsouza, Spintly offers a frictionless, fully wireless, smartphone-based physical access control solution. This modern approach addresses the limitations of traditional systems by being adaptive and scalable and facilitating decentralized access control, enhancing convenience and usability.

Barath Shankar Subramanian, Partner at Accel, noted, "Spintly’s solutions have overcome the shortcomings of traditional access control systems- they are adaptive, scalable, and allow decentralized access control, all of which make them very convenient to use."

Operational enhancements and strategic moves

Spindly has made strategic, operational changes, including relocating its contract manufacturing to India in 2021 and partnering with local manufacturers in Gujarat and Tamil Nadu. 

The move not only helped mitigate immediate supply chain challenges but also supported local manufacturing and job creation within India. Additionally, Spintly has recently increased its U.S. team, adding members to its business development and sales teams in Silicon Valley and Texas.