IoT tech startup Spintly raises $2.5M in a pre-Series A round led by LetsVenture, others

SaaS-based physical access control and smart buildings startup Spintly has raised $2.5 million in a pre-Series A funding round led by LetsVenture, Accel Nest, SucSEED Indovation, RiSo Capital, Defang Technology, 91 Ventures, Kyto Technology and Life.

The round also saw participation from notable angel investors and groups, including Dheeraj Pandey, Co-founder and CEO of DevRev, and former Founder and CEO of Nutanix.

Founded in 2018 by Rohin Parkar and Malcolm Dsouza, Spintly offers a frictionless, wireless, smartphone-based physical access control solution to commercial and residential buildings.

The startup plans to use the raised capital to increase its growth in the global market, including the US, and strengthen its R&D capabilities. It claims that the adoption of its products increased in the post-pandemic phase due to the increased need for contactless and cloud-based solutions.

Spintly’s products are used by co-working spaces, managed commercial office spaces, and small to medium-sized enterprises.

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