Spintly Raises Rs 3.5 Crore from Spyre VC in Latest Funding Round

Spintly, a leading provider of access control and innovative building solutions has secured Rs 3.5 crore in funding from Spyre VC, marking the first investment by India's premier industry-backed PropTech venture capital fund. The funding round also saw participation from notable investors, including Accel India, Chakra Growth Fund, Alumni Ventures, and Doctor Technology.

The investment comes at a strategic time, as the global access control market, currently valued at $10.4 billion, is projected to reach $15.2 billion by 2029. Similarly, the intelligent building market is expected to expand from $78.28 billion in 2022 to $247.17 billion by 2032.

Spyre VC, backed by CREDAI, India's largest real estate developer association with over 15,000 members across 250 chapters, brings a robust corpus of $50 million and deep industry expertise to the partnership. The fund's management team boasts over 40 years of collective experience in real estate, investment, and technology sectors.

"As our very first investment, it not only aligns perfectly with our mission to drive innovation in the prop-tech space but also marks a significant milestone in India's real estate technology landscape," said Abhimanyu Bisht, Operating Partner at Spyre Proptech VC. "With CREDAI as our partner, we can help deep-tech Proptech companies like Spintly well beyond just monetary support."

Spintly has already demonstrated significant market traction, with its solutions deployed across 24 million square feet of real estate, serving more than 500,000 users and 500+ customers globally. The company plans to use the fresh capital to expand its market reach, strengthen senior management, and enhance its innovative building solutions through AI and machine learning integration.
"The partnership with Spyre VC and having CREDAI as a partner would help us access the real estate developer's ecosystem to expand across India," said Rohin Parkar, Co-Founder & CEO of Spintly. "We look forward to collaborating with the real estate fraternity to achieve our vision of simplifying and decarbonizing the built world."

Spintly's previous investors include Letsventure, Riso Capital, Sucseed Indovation, and Accel Nest. This latest investment signals growing confidence in the company's technology and vision for transforming smart buildings and spaces through innovative IoT and AI solutions.