Spintly Secures New Funding Led by Accel: Goa’s IoT Pioneer Redefining Smart Building Security Scales Up
In a strong vote of confidence for India’s IoT and enterprise security ecosystem, Spintly—a Goa-based deep-tech startup—has raised a significant new funding round led by Accel to accelerate its mission of building wireless, cloud-native access control and smart building solutions.
The capital infusion will fuel Spintly’s aggressive expansion as it scales its IoT-powered platform across modern commercial offices, co-working spaces, manufacturing facilities, educational campuses, hospitals, and enterprise campuses .
This round underscores surging investor interest in IoT-enabled infrastructure platforms—especially those delivering recurring SaaS revenue, strong unit economics, and clear value in post-pandemic hybrid work environments. Accel’s lead signals high conviction in Spintly’s ability to become a category leader in modern physical security and workforce management tech .
The Funding Round: Key Details
At a Glance
Investor Profile
Accel, the lead investor, is one of the world’s most prestigious venture capital firms, with a stellar track record backing category-defining companies including Facebook, Flipkart, Freshworks, and Swiggy. Their continued support for Spintly—having backed the startup since its participation in Accel’s Atoms 3.0 pre-seed accelerator program—demonstrates strong conviction in the company’s technology and market potential .
Spyre VC, India’s first industry-backed proptech venture capital fund, invested in Spintly in January 2025 as their maiden investment, with backing from CREDAI (India’s leading body of real estate developers with over 15,000 builders from 250 chapters) . This strategic association gives Spintly unparalleled access to the real estate developer ecosystem across India.
The Founders: IIT-Alumni with Deep-Tech Vision
Spintly was founded in 2017 by Rohin Parkar (CEO) and Malcolm Dsouza (CTO) .
| Founder | Role | Background |
|---|---|---|
| Rohin Parkar | Co-founder & CEO | Engineering background; leads business strategy, market expansion, and partnerships |
| Malcolm Dsouza | Co-founder & CTO | Engineering background; drives technology architecture and product innovation |
The founders’ vision was clear from the start: streamline access control through wireless, cloud-based technology that eliminates the complexity and cost of traditional wired systems .
Building a deep-tech hardware startup from Goa—not Bengaluru or other traditional startup hubs—adds to the uniqueness of their journey. As Malcolm Dsouza noted when Spintly was recognized under the Startup India Mission:
“This recognition reflects the passion and perseverance of our team. Building world-class tech from Goa has always been our vision, and the state gave us both the foundation and the launchpad to grow” .
What Spintly Builds: The Technology
Core Offering
Spintly’s platform is a fully cloud-based, subscription-driven system that replaces traditional wired access control with a modern, wireless alternative .
| Component | Description |
|---|---|
| Wireless readers | Battery-powered, Bluetooth Low Energy (BLE) enabled devices |
| Mobile credentials | Access via smartphone or smartwatch—no physical cards needed |
| Cloud platform | Centralized management, real-time monitoring, instant updates |
| Open APIs/SDKs | Easy integration with HR/payroll/attendance systems and third-party platforms |
| Mesh network | Proprietary architecture where every device acts as a data relay |
Key Technical Advantages
1. Truly Wireless, BLE-Mesh Powered
Spintly’s ingenious mesh network transforms every device into a data relay, eliminating the need for complex cabling and bulky back-end hardware. This distributed architecture enables:
- Simplified installation with minimal wiring
- Reduced upfront costs compared to traditional systems
- Effortless scalability—add devices without significant infrastructure changes
- Ideal for retrofit scenarios where existing buildings need smart upgrades without extensive renovation
2. Distributed Intelligence at the Edge
Unlike traditional centralized systems, Spintly’s architecture facilitates intelligent, distributed processing at the edge of the IoT network. Devices communicate and make data-driven decisions based on local information—eliminating the need for a central processing unit and enhancing system efficiency and reliability .
3. Open Integration Ecosystem
Spintly’s platform offers APIs and SDKs for easy integration into third-party systems, making it the ideal solution for modernizing buildings into intelligent, connected spaces. It integrates seamlessly with:
- Property management software
- HR and payroll systems
- Building Management Systems (BMS)
- IoT sensors and occupancy monitoring platforms
- Video surveillance systems
Security Features
Spintly’s platform emphasizes zero-trust security with multiple layers of protection:
| Feature | Description |
|---|---|
| End-to-end encryption | All communication secured |
| Role-based access | Granular permissions by user type |
| Audit trails | Complete logs of all access events |
| AI-driven anomaly detection | Identifies suspicious patterns and potential threats |
| Anti-tailgating | Prevents unauthorized follow-through entry |
| Real-time monitoring | Instant alerts on unusual activity |
These features are critical for hybrid workplaces and high-security environments where traditional access control falls short.
Target Markets and Applications
Spintly’s solutions are deployed across diverse sectors :
| Sector | Applications |
|---|---|
| Commercial Offices | Employee access, visitor management, meeting room booking integration |
| Co-working Spaces | Flexible member access, temporary credentials, space utilization tracking |
| Manufacturing Facilities | Secure zone access, shift-based permissions, contractor management |
| Educational Campuses | Student/staff access, lecture hall entry, attendance tracking |
| Hospitals | Restricted area control, staff access by role, patient safety |
| Enterprise Campuses | Multi-building management, centralized control, compliance reporting |
Prominent Customer Deployments
Spintly has already demonstrated its value across high-profile clients :
- Manipal Hospitals — deployed across 32 sites
- Tata Consumer Products — deployed across 11 sites
- Partnerships with industry leaders — JLL, Anarock, Brookfield Properties in India and globally
Key Metrics
| Metric | Value |
|---|---|
| Real estate covered | 24 million+ square feet |
| Users served | 500,000+ |
| Global customers | 500+ |
| Deployments | 4,000+ across India and globally |
| ARR growth (2023) | 300% |
How the Fresh Capital Will Be Used
1. Rapid Geographic Expansion
- Tier-1 and Tier-2 cities across India—deepening presence in key markets
- International markets—continuing growth in the US and Middle East where Spintly already operates
2. Deepening Enterprise Sales & Channel Partnerships
- Expand enterprise sales team to engage large corporate clients
- Build strategic partnerships with system integrators and property management firms
- Leverage CREDAI network (15,000+ builders across 250 chapters) to access real estate developer ecosystem
3. Enhancing Product Roadmap
- Advanced analytics —deeper insights on space utilization, occupancy patterns, and security trends
- Video integration —seamless incorporation with surveillance systems
- Open API ecosystem —enable third-party developers to build on Spintly’s platform
- AI/ML enhancements —improved anomaly detection and predictive capabilities
4. Building Stronger Go-to-Market Engine
- Aggressive marketing and brand-building in target segments
- Strengthen sales and customer success teams
- Develop partner enablement programs
5. Technology & R&D Investments
- Continue innovating on wireless mesh architecture
- Expand product portfolio beyond access control into broader smart building applications
- Maintain edge in India’s fast-growing smart building and workplace tech market
Market Opportunity: The Smart Building Boom
Global Market Size
The markets Spintly addresses are massive and growing rapidly :
| Market | Current Value | Projected Value | CAGR |
|---|---|---|---|
| Global Access Control | $10.4 billion | $15.2 billion by 2029 | 7.8% |
| Global Smart Building | $78.28 billion (2022) | $247.17 billion by 2032 | 12.3% |
India’s Opportunity
India’s commercial real estate and enterprise segments are booming:
- Grade-A office spaces expanding across Tier-1 and Tier-2 cities
- IT parks and special economic zones requiring modern security
- Co-working revolution with flexible space operators needing agile access control
- Manufacturing growth under PLI schemes driving industrial automation
- Healthcare and education infrastructure modernization
Post-Pandemic Tailwinds
The shift to hybrid work has created new requirements:
- Flexible access for employees who come in occasionally
- Contactless entry for health safety
- Remote management of distributed office portfolios
- Integration with HR systems for seamless onboarding/offboarding
- Visitor management for meeting guests and contractors
Spintly’s cloud-native, mobile-first platform is perfectly positioned to address these needs.
The India Manufacturing Advantage
In 2021, Spintly made a strategic decision to relocate its entire contract manufacturing to India .
The Trigger
During the COVID-19 pandemic, disruptions in global trade halted production, prompting Spintly to swiftly transition its manufacturing operations to India.
The Benefits
| Aspect | Impact |
|---|---|
| Supply chain resilience | Reduced dependence on international suppliers |
| Cost control | Better management of hardware costs |
| Lead time reduction | Faster production and delivery cycles |
| Local employment | Job creation through partnerships with manufacturers |
| Atmanirbhar Bharat alignment | Supports domestic manufacturing ecosystem |
Spintly now partners with local manufacturers in Gujarat and Tamil Nadu, creating employment opportunities while enhancing competitiveness .
Goa’s Emerging Startup Ecosystem
Spintly’s success is a proud moment for Goa’s startup ecosystem, which is steadily gaining recognition as a destination for deep-tech innovation.
State Support
Spintly was one of the early recipients of Goa’s Seed Capital Scheme under the Startup Policy, administered by the Startup and IT Promotion Cell of the Department of Information Technology, Electronics and Communications. That initial state support enabled product development long before the company attracted venture capital .
Recognition
In June 2025, Spintly was honoured with a Certificate of Appreciation under the Startup India Mission during the Sankalp Se Siddhi celebrations, commemorating 11 years of the Modi government and one year of Modi 3.0. The recognition was conferred by Goa Chief Minister Dr Pramod Sawant .
Growing Momentum
As a senior official from the Startup Promotion Cell noted: “Goa is no longer just a place to relax—it’s becoming a place to build” .
Spintly’s success demonstrates that world-class technology ventures can emerge from beyond traditional startup hubs, given supportive policies, improving infrastructure, and access to funding.
What This Means for Different Stakeholders
For Enterprises and Facility Managers
- Modernize access control without costly wiring and infrastructure changes
- Reduce operational costs through cloud-based management
- Improve security with zero-trust architecture and real-time monitoring
- Enhance user experience with mobile-based access
- Integrate seamlessly with existing HR and building systems
For Real Estate Developers
- Differentiate properties with smart building capabilities
- Attract premium tenants with modern security infrastructure
- Reduce installation costs with wireless retrofit solutions
- Enable flexible space usage with easily reconfigurable access
- Future-proof assets with open API ecosystem
For Investors
- Exposure to high-growth IoT security market
- Backing of experienced founders with proven execution
- Strong unit economics with recurring SaaS revenue model
- Clear path to scale with channel partnerships and geographic expansion
- Alignment with smart building mega-trend
For India’s Deep-Tech Ecosystem
- Another success story proving hardware startups can scale
- Validation that global VCs will back Indian IoT innovation
- Inspiration for founders building in non-metro locations
- Strengthening of India’s reputation in enterprise-grade technology
The Competitive Landscape
Global Competitors
| Company | Focus |
|---|---|
| KISI | Cloud-based access control |
| Swiftlane | Smart access technology |
| Nexkey | Mobile-based entry solutions |
| Keyless | Biometric authentication |
Spintly’s Differentiation
- Wireless mesh architecture —Eliminates wiring complexity, ideal for retrofits
- Edge intelligence —Distributed processing enhances reliability
- India-first manufacturing —Cost control and supply chain resilience
- Strong partnerships —CREDAI network for real estate access
- Proven enterprise deployments —500+ customers, 24M+ sq ft
- Open API ecosystem —Easy integration with existing systems
The Road Ahead for Spintly
Near-Term Priorities
- Scale geographic footprint across Tier-1 and Tier-2 Indian cities
- Deepen enterprise sales and channel partnerships
- Enhance product roadmap with analytics and video integration
- Strengthen go-to-market engine for smart building capture
Medium-Term Goals
- Category leadership in Indian smart building security
- International expansion in US and Middle East markets
- Product portfolio expansion beyond access control
- Partner ecosystem development for broader reach
Long-Term Vision
As Rohin Parkar articulated:
“Our ultimate goal is to simplify and decarbonize buildings, a mission made more feasible by the ongoing shift toward greener, tech-driven real estate practices” .
Spintly envisions a future where buildings are intelligent, connected, and sustainable—with access control as the foundation of broader smart building transformation.
Conclusion: A Win for Indian IoT and Enterprise Tech
Spintly’s new funding round led by Accel is more than a financial milestone—it’s a validation of the thesis that Indian deep-tech hardware startups can build world-class, enterprise-grade solutions with global relevance.
The company’s focus on:
- Wireless, cloud-native access control eliminating traditional complexity
- Edge intelligence and mesh architecture enabling scalable deployment
- Open integration ecosystem connecting with HR, BMS, and IoT platforms
- Zero-trust security for modern hybrid workplaces
- India manufacturing ensuring supply chain resilience
positions it as a significant player in the global smart building security market.
With the fresh capital, Spintly is poised to:
- Accelerate geographic expansion
- Deepen enterprise partnerships
- Enhance its product platform
- Capture share in India’s booming commercial real estate segment
For Goa’s startup ecosystem, Spintly’s success proves that world-class technology ventures can emerge from beyond traditional hubs. For India’s deep-tech landscape, it adds to the growing momentum of IoT and enterprise innovation.
As Abhimanyu Bisht of Spyre VC noted when making their maiden investment in Spintly:
“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 Accel’s continued backing and a clear vision for the future, Spintly is well on its way to becoming a category leader in modern physical security and workforce management tech.
