Dec 22, 2022

SaaS-based startup Spintly raises $2.5 million in a pre-series A round of funding. The round saw participation from Lets Venture, Accel Nest, SucSEED Indovation, RiSo Capital, Defang Technology, 91 Ventures, Kyto Technology and Life, and a few other notable angel investors and groups including Dheeraj Pandey, Co-Founder and CEO of DevRev and former Founder and CEO of Nutanix. Spintly will be using these funds to focus on its growth in the global market including the United States and to strengthen its R&D capabilities. Spintly has raised $3.5 M so far. Started in 2018 by Rohin Parkar and Malcolm Dsouza, Spintly products are mainly adopted by co-working spaces, managed commercial office spaces, and small- to medium-sized enterprises. Rohin Parkar, Co-Founder and CEO of Spintly said, “We are really proud that our team has built a strong, lean and sustainable business surviving through the pandemic and the recent global economic turmoil. We are much stronger now and this capital will help us scale and penetrate deeper into the market and also expand our offerings to various market segments. Our investors have been very supportive throughout our journey and we are really excited to see some of them doubling down in this round.” Speaking on the investment, Vikrant Varshney, Co-Founder and Managing Partner of SucSEED Indovation Fund said, "There is a mobile and cloud revolution happening in the physical security space. Smart access control systems are pacing ahead due to the adoption of wireless access control systems by large enterprises after the pandemic. Spintly offers the world’s first fully-wireless mesh access control solution with Thread, Bluetooth LE, NFC, and other contactless technologies. Spintly won the Thread Innovation Enabler Award in February 2022 which is a member-driven organisation including Amazon, Apple, Google, Nordic Semiconductor, NXP, and many more. We are very bullish about the future of Spintly." Share this article: