Proptech startup Spintly bags Rs 3.5 Cr from Spyre VC
Spyre has made its first investment in the property tech space by investing in Spintly, which has also bagged funding from Accel India and Alumni Ventures, among others.
Smart building solution provider Spintly has raised Rs 3.5 crore in a round led by Spyre VC to increase presence and strengthen senior management roles.
The round also saw participation from Accel India, Chakra Growth Fund, Alumni Ventures, and Doctor Technology, according to a statement by Spyre VC.
"As our very first investment (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 CREDAI as our partner, we can really help deep-tech Proptech companies like Spintly well beyond just monetary support,” noted Abhimanyu Bisht, Operating Partner, Spyre Proptech VC.
With latest capital infusion, Spintly aims to enhance its market penetration, expand its presence across various countries, bolster its senior management team, and broaden the capabilities of its smart building solutions by utilizing AI and machine learning.
“The partnership with Spyre VC and having CREDAI as a partner would help us access the real estate developers ecosystem to expand across India," said Rohin Parkar, Co-founder & CEO, Spintly.
The company has deployed it’s solutions across 24 million square feet of real estate, which serves more than 0.5 million users and 500+ customers globally. It had earlier raised capital from Letsventure, Riso Capital, Sucseed Indovation, and Accel Nest. It is banking on involvement of CREDAI, a body of real estate developers, to transform the real estate sector through modern technology leveraging IoT and AI.
Edited by Megha Reddy