Spintly, a prop-tech startup has raised ₹3.5 crores in an extended seed funding round led by Spyre VC, an industry-backed PropTech venture capital fund.
The funding round also saw participation from Accel India, Chakra Growth Fund, Alumni Ventures, and Doctor Technology, amongst others.
The funds raised will be used to accelerate its market reach, increase its presence in different countries, strengthen senior management functions, and expand the scope of its smart building solutions by leveraging AI and machine learning. The company has already deployed its solutions across 24 million square feet of real estate which serves more than 0.5 million users and 500+ customers globally.
Previously Spintly raised a pre-Series A round of $2.5 million in 2022 from from Lets Venture, Accel Nest, SucSEED Indovation, RiSo Capital, Defang Technology, 91 Ventures, Kyto Technology and Life and $2 million in funding from Accel, Doctor Technology and Chakra Growth Fund.
Spintly’s Co-Founder & CEO, Rohin Parkar, said, “The partnership with Spyre VC and having CREDAI as a partner would help us access the real estate developers ecosystem to expand across India. We look forward to collaborating with the real estate fraternity to achieve our vision of simplifying and decarbonizing the built world.”
Abhimanyu Bisht, Operating Partner, Spyre Proptech VC, said, “We are excited to announce our investment in Spintly. As our very first investment, it not only aligns perfectly with our mission to drive innovation in the proptech space but also marks a significant milestone in India’s real estate technology landscape. With CREDAI as our partner, we can really help deep-tech Proptech companies like Spintly well beyond just monetary support.”
Founded in 2017 by Rohin Parkar and Malcolm Dsouza, Spintly provides cloud-based smart building solutions in the physical security space. Spintly delivers a wireless, cloud-based access control platform for a seamless user experience and eliminates the need for key cards and elaborate wiring for access control.
