Spintly Secures $2 Million to Fuel U.S. Expansion and Product Innovation

Preeti Bali / 2:18 pm / April 22, 2024

Spintly Inc., a leading innovator in cloud-based smart building solutions, has secured $2 million in an extended seed funding round. The investment consortium includes prominent names like Accel, Doctor Technology, and the Chakra Growth Fund.

Focus on U.S. Market Growth

This fresh capital injection will be instrumental in propelling Spintly’s expansion plans within the United States market. The company intends to prioritize bolstering its sales, marketing, and partnership initiatives.

Rohin Parkar, Spintly’s Co-Founder and CEO, emphasizes the significance of this funding. “This investment represents a pivotal moment for Spintly,” he states. “The additional resources will enable us to scale our operations more efficiently and diversify our product portfolio across various market segments.” Additionally, Spintly plans to explore new market opportunities in diverse areas such as enterprise, residential, data centers, and education sectors, alongside introducing new features and products throughout the year.

Technological Innovation Meets Market Expansion

Established in 2018 by Rohin Parkar and Malcolm Dsouza, Spintly tackles the limitations of traditional physical access control systems by offering a frictionless, completely wireless solution. This modern approach leverages smartphones for access control, providing scalability, adaptability, and a decentralized approach, ultimately enhancing convenience and user experience.

Barath Shankar Subramanian, a Partner at Accel, acknowledges the advantages of Spintly’s solutions. “Spintly’s offerings effectively address the shortcomings of conventional access control systems,” he remarks. “Their solutions are adaptive, scalable, and allow for decentralized access control, all of which contribute to their user-friendliness.”

Strategic Moves and Operational Enhancements

Spintly has implemented strategic adjustments to their operations, including the relocation of contract manufacturing to India in 2021. This move not only mitigated immediate supply chain challenges but also fostered local manufacturing and job creation within India. Additionally, Spintly has recently expanded its U.S. presence by adding members to their business development and sales teams in Silicon Valley and Texas.

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