Proptech startup Spintly has raised ₹3.5 crore in an extended seed funding round led by Spyre VC, with participation from Accel India, Chakra Growth Fund, Alumni Ventures, and Doctor Technology. The funding adds to its previous raise of $5.36 million from investors such as Letsventure, Riso Capital, Sucseed Indovation, and Accel Nest.
The fresh capital will be deployed to enhance Spintly’s market reach, bolster its global presence, strengthen its senior management team, and further develop its smart building solutions by leveraging advanced AI and machine learning technologies, the company announced in a press release.
Spintly’s Journey and Vision
Founded in 2017 by Rohin Parkar and Malcolm Dsouza, Spintly focuses on transforming building operations through wireless, cloud-based access control solutions. By eliminating traditional legacy systems, the startup leverages IoT, Edge AI, and smartphone-based technology to deliver simplified, scalable, and innovative solutions for smart buildings.
Spintly’s technology integrates access control with enterprise and property management software, offering seamless operations and enhanced security. Its platform also supports APIs and SDKs, enabling third-party integration and ensuring compatibility with existing systems, making it an ideal choice for modernizing buildings into intelligent, connected spaces.
A Growing Market Opportunity
The global market for access control systems is estimated at $10.4 billion in 2023 and is projected to reach $15.2 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.8%. Similarly, the global smart building market, valued at $78.28 billion in 2022, is expected to expand to $247.17 billion by 2032, at a CAGR of 12.3%.
Spintly is well-positioned to capitalize on this growth, with its solutions already deployed across 24 million square feet of real estate, serving over 0.5 million users and 500+ customers globally.
Looking Ahead
With its latest funding, Spintly aims to drive innovation in the smart building space, expand its geographic footprint, and reinforce its position as a leading player in the proptech ecosystem. By continuing to integrate cutting-edge AI and machine learning, the company plans to redefine how buildings operate, offering sustainable and efficient solutions that cater to the needs of the modern world.
