Proptech innovator Spintly has announced the successful close of its extended seed funding round, securing ₹3.5 crore. The round was spearheaded by Spyre VC, with contributions from Accel India, Chakra Growth Fund, Alumni Ventures, and Doctor Technology.
This funding milestone builds on Spintly’s earlier success when the startup raised $5.36 million from Letsventure, Riso Capital, Sucseed Indovation, and Accel Nest. The fresh capital will propel the company’s mission to enhance market presence, bolster its footprint in international markets, strengthen its leadership team, and further refine its cutting-edge smart building technologies using artificial intelligence and machine learning.
Founded in 2017 by visionary entrepreneurs Rohin Parkar and Malcolm Dsouza, Spintly specializes in cloud-based, wireless access control and intelligent building systems. Its IoT-driven solutions eliminate the complexities of traditional systems, offering a seamless user experience powered by Edge AI and smartphone integration. By prioritizing scalability and ease of use, Spintly is redefining how modern buildings operate.
The platform integrates access control systems with enterprise and property management software, streamlining both security and operations for its clients. Its robust APIs and SDKs facilitate smooth integration with third-party applications, enabling buildings to transform into interconnected, efficient ecosystems.
The proptech company has already made significant strides, with its solutions deployed across 24 million square feet of real estate, benefiting over 500 clients and half a million users worldwide.
The global access control market, currently valued at $10.4 billion, is expected to grow to $15.2 billion by 2029 at a CAGR of 7.8%. Similarly, the smart building market is projected to surge from $78.28 billion in 2022 to $247.17 billion by 2032, at a robust CAGR of 12.3%. With these promising market dynamics, Spintly is well-positioned to capitalize on the rising demand for intelligent, connected building solutions.
By leveraging this latest round of funding, Spintly is gearing up to lead the next wave of transformation in the proptech sector, offering innovative solutions that redefine how buildings function and interact in a rapidly evolving landscape
