SG’s smart lock maker igloocompany banks US$12M Series B1 to expand its footprint in US, Europe

igloocompany, a smart locker company in Singapore, has banked US$12 million in its Series B1 funding round from Purpose Venture Capital and existing investors Kickstart Ventures, Wavemaker Partners, and Insignia Ventures Partners.

The amount brings the startup’s total funding raised to date to US$32 million.

The new infusion will enable igloocompany to advance its footprint in the US and European markets through broad-market adoption and fuel developmental efforts in the enterprise segment.

Anthony Chow, Co-Founder and CEO, said, “When igloocompany first started, we were smart-lock makers. Six years on, we have fully-integrated solutions for enterprises on top of our premium consumer offerings.”

“We are now focused on growing our ecosystem of symbiotic partnerships and meaningful integrations to deliver powerful customer experiences. Our strategy has gained traction, with over 1,000 integrations completed in the past 18 months, and looks set to grow,” he added.

Also Read: igloohome raises US$15M afresh to expand its smart access solutions to real estate

The startup was established in July 2015 by Chow and Kelvin Ho as igloohome, a that made smart locks and lockboxes. Since then, it has grown to include an enterprise-focused vertical, iglooworks, which focuses on large-scale access management.

In October 2020, igloocompany was announced as the holding entity of igloohome and iglooworks.

igloohome creates keyless access solutions for smarter living and smarter cities. Users can remotely grant time-sensitive access to their properties or assets with these smart locks. The device uses unique technology – algoPINTM- that enables their solutions to be highly secure and operate remotely without WiFi connectivity.

iglooworks is an enterprise-focused line offering and a suite of smart access solutions for remote monitoring and management of access for infrastructure providers, facilities managers, and smart city developers.

In July 2021, the firm set up an office in Austin in the US, where it aims to deploy one million devices, garner 400 enterprise partnerships, and achieve 2.5x growth over the past 18 months.

igloohome also announced a partnership with ShowingTime, an integrated showing management provider, and launched iglooconnect to enable users to integrate igloohome locks with third-party service providers. ShowingTime currently serves over 950,000 realtors.

igloocompany has 135 employees with ten regional offices worldwide.

In July 2019, the company announced a US$15 million Series B round, led by Insignia Ventures. A year earlier, it bagged US$4 million led by the same investor.

—

The post SG’s smart lock maker igloocompany banks US$12M Series B1 to expand its footprint in US, Europe appeared first on e27.