Access Control Devices Maker Unikey Raises $10M Oversubscribed Funding

image source : gizmag

image source : gizmag

American startup Unikey raises a funding of $10 million through series A round. The funding saw participation from Asset Management Ventures, AXCIT, Broadway Angels, CBRE, ff Venture Capital, Samsung, Haas Portman, Oriza Ventures and other global investors.

UniKey Technologies is a alternative access control company based in the United States that designs and licenses keyless entry technology worldwide. In 2012 Unikey collaborated with Kwikset, a residential lock manufacturer company in the United States, to manufacture and distribute Kēvo, a residential smart lock using UniKey’s technology which still remains the company’s flagship product.

The company intends to use the newly acquired funding to move beyond the Smart home into bigger markets which are expected to drive IoT (Internet of things) in future. The company plans to bring the security, smart Bluetooth, intelligence and re-key technology in Kēvo to available for all access control, hospitality and government as reported by forbes.

The company was founded in 2010 by Phil Dumas, who has been serving as the President and the Chief Executive Officer till date. Unikey previously had raised $2.9 million in seed funding.