Accel Leads $8M Series A Funding Round for Indian IoT Security Startup Spintly

Spintly, a Goa-headquartered IoT and physical security startup, has raised $8 million in a Series A funding round led by Accel.

The investment round also included participation from ENRISSION India Capital and SucSEED Ventures, boosting the company's total funding to over $13 million.

Funding Fuels Smart Building Revolution

This capital infusion will accelerate Spintly's expansion into enterprise and commercial real estate markets across India and beyond.

Founded in 2018 by Rohin Parkar and Malcolm Dsouza, Spintly specializes in wireless, cloud-based access control and attendance systems for modern buildings.

Innovative IoT Solutions

The startup's SaaS platform eliminates traditional wired hardware, enabling frictionless smartphone-based entry using Bluetooth and distributed edge computing.

Prior to this Series A, Spintly had secured multiple seed rounds, including a $2 million extended seed led by Accel in 2024 and a $2.5 million pre-Series A in 2022 from LetsVenture and others.

Spintly's solutions address key pain points in proptech, offering scalable security for smart buildings amid rising demand for IoT integration.

Impact on India's Proptech Landscape

The funding underscores investor confidence in India's burgeoning IoT security sector, projected to grow rapidly with urbanization.

By simplifying access management, Spintly reduces installation costs by up to 70% compared to legacy systems.

Looking ahead, the startup plans to enhance R&D, enter new markets like the US, and integrate AI for predictive security features.

This Series A positions Spintly as a frontrunner in transforming physical security for the digital age.