Sensible Lock Pioneer UniKey Raises $10m And Seems Outdoors The House For Progress

Smart Lock Pioneer UniKey Raises $10m And Looks Outside The Home For Growth

Means again within the yr 2011 Phil Dumas’ firm UniKey Applied sciences debuted its product on Shark Tank. It was a lock that used your smartphone as a key. Disruption! On the time sensible locks have been not likely a factor but UniKey plowed but because the market exploded with comparable merchandise. Now, 5 years after its primetime debut, UniKey is saying an oversubscribed Collection A to cost ahead amid critical competitors.

Collaborating spherical consists of Asset Administration Ventures, AXCIT, Broadway Angels, CBRE, ff Enterprise Capital, Samsung, Haas Portman, Oriza Ventures and different international buyers. The corporate beforehand raised $2.9 million in enterprise funding.

“We’ve pioneered the sensible lock class for the residential market 5 years in the past and now UniKey leads the market with probably the most handy and safe entry answer for companies and shoppers worldwide,” stated Phil Dumas in a launched assertion at this time.

In response to Dumas the extra funding will assist the corporate increase internationally and convey the corporate’s know-how to new markets outdoors of the sensible residence market. The corporate managed to internet a cope with Kwikset that put the UniKey know-how in a Kwikset product.

Since UniKey launched its first product, numerous smartkey merchandise hit the market. There are sensible lock startups like Lockitron and August and choices from main house hardware corporations as Schlage and Kiwkset (which additionally sells merchandise not powered by Unikey). But the market is large. Each home, condominium and enterprise has a lock that would use a know-how improve.