Wednesday, August 12, 2020

Smart locks maker igloohome launches new solutions following US$15M Series B round

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Felicia Calle
Felicia Calle
Australia | Felicia's fascination with tech began in the 90s, and she loves to update readers on the best tech deals on the internet. When she’s not writing, you’ll find her travelling around the world.

Singapore-based smart access solutions startup, igloohome, has raised US$15 million in its Series B funding round co-led by existing investors Insignia Ventures Partners, Wavemaker Partners, and SEEDS Capital.

New investors such as Kickstart Ventures, TH Capital, Pine Venture Partners, On Asset Management, and InnoVen Capital, in addition to existing backers Singtel Innov8 and Great Noble International, also co-invested.

With the new funds, the startup announced the launch of a suite of smart access solutions, iglooworks, for enterprise customers, primarily for the real estate and infrastructure industries.

igloohome also plans to invest the new funds into the research and development of new products and software, and supporting new and existing distribution partners globally, especially in Europe, the US, and the Asia Pacific.

igloohome was founded in 2015, providing smart lock and lock boxes that integrate with a mobile app, enabling users to manage their homes and properties remotely. Its products can also work offline, using encryption and synchronization, similar to that on an internet banking token.

The startup claims that it currently has over 100 distribution partners, more than 100 integration partners and is working with notable property developers such as Thailand’s Sansiri, Japan’s Mitsubishi and Vietnam’s CapitaLand.

In April 2018, igloohome also raised a US$4 million Series A funding round led by Insignia Ventures Partners.

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