January 7, 2025
California-based PropTech Startup Spintly Secures ₹35 Crore to Revolutionize Smart Building Access Control
Milpitas, California, United States –
Spintly, a PropTech startup specializing in wireless, cloud-based access control solutions, has raised ₹35 crore (approximately $4.2 million USD) in a funding round. The funding round, completed on January 6, 2025, was led by Spyre Capital, with participation from Accel Atoms, Alumni Ventures, Chakra Growth Fund, and Good Doctor Technology Indonesia. Spintly plans to use the funds to enhance its product offerings, expand its global market reach, and accelerate adoption of its innovative smart building solutions.
About the company
Founded in 2018, Spintly is revolutionizing the access control industry by eliminating the need for extensive wiring and hardware in buildings. Its wireless, cloud-based system allows users to unlock doors using their smartphones, significantly reducing installation complexity and cost. The platform leverages BLE-mesh network technology and IoT capabilities to provide 24/7 real-time monitoring, empowering clients such as enterprises, co-working spaces, hospitality providers, and residential communities to manage access seamlessly.
Purpose of financing
The fresh funding will enable Spintly to expand into new markets, strengthen its senior leadership team, and advance its research and development initiatives. The company aims to integrate artificial intelligence and machine learning into its systems, making buildings smarter and more sustainable.
CEO’s Insights
Rohin Parkar, co-founder and CEO of Spintly, added:
"This funding is a significant milestone for us as we work toward simplifying building operations and creating a greener future. With Spyre VC’s support and industry connections, we are well-positioned to scale our solutions globally and deliver on our mission to redefine smart building technology."
Investor Perspective
Spyre VC Operating Partner Abhimanyu Bisht said:
"Spintly is at the forefront of transforming real estate with its innovative technology. We are thrilled to support their mission of decarbonizing and modernizing buildings while making access control systems more efficient and user-friendly."
Conclusion
The PropTech industry is experiencing rapid growth, with the global smart building market expected to grow from $78.28 billion in 2022 to $247.17 billion by 2032 at a CAGR of 12.3%. Spintly aims to capitalize on these trends by providing cost-effective, cutting-edge solutions that reduce energy consumption and streamline building operations. With its headquarters in California and a growing presence in key markets, Spintly is poised to become a leader in the smart building space.
For more information, visit Spintly’s on LinkedIn.