Open Appliances which is a Smart Locker maker has now secured Pre Series A funding round of $1.3 Million from the KARSE MVEN Fund and Unicorn India Ventures. Some of the existing investors who have also participated in the seed round are: Kumar Vembu, Co-Founder of Zoho, Axilor Ventures has also put the money taking the total funding raised till date to almost $2 Million.
The company said in a report that it also designs the GSM-enabled smart locks and Bluetooth for the small and large enterprises. The lock can be opened remotely with the help of an OpenApp Mobile App and can also send an alert out every time if it is unlocked out in case of any threat.
“Innovation like the smart lock is needed by large industries who store physical things. For centuries and even now, such industries have been using the archaic method of safeguarding their assets,” said Bhaskar Majumdar, managing partner, Unicorn India Ventures.
OpenApp is already operational and working in Africa and Asia and will continue further expansion into some of these geographies.
“The company is already a market leader in the space, and with the extended round and new partners, the company intends to widen its lead. OpenApp is working towards deploying 1 lakh devices with more than half already fulfilled across Asia and Africa,” said Gotama Gowda, CEO, OpenApp.
The company also has plans to invest in its core software access platform apart from just launching the two new smart devices by the end of this year.
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