How is Spintly aiming to leverage and adapt their underlying technologies such as IoT and cloud computing for smart manufacturing applications in the future? Do you see any scope for such diversification?
In the manufacturing industry, control over machinery and processes is essential to maximise machine uptime. Machine components generate vast amounts of data essential for optimising processes, and in large facilities, millions of sensors are wired to centralised controllers to gather and manage this data. With the automation of manufacturing processes on the rise, there is a growing demand for sensors. However, traditional automation methods relying on centralised wired systems are becoming more expensive.
Spintly addresses this challenge by leveraging wireless sensors within a mesh network with a distributed architecture. Ideal for applications like process control and preventive maintenance, this technology provides a solution that caters to the demands of modern manufacturing. With over 4,000 deployments across India and globally, Spintly has developed an access control system using a distributed architecture on a wireless mesh platform. As Spintly continues to evolve, it aims to expand from access control into smart buildings and eventually into sophisticated smart industrial applications.
What sets Spintly's innovative architecture apart from competitors?
Spintly simplifies and reduces the cost of installation compared to traditional, centralised systems. Unlike other solutions that require extensive wiring and bulky hardware, Spintly's ingenious mesh network transforms every device into a data relay, eliminating the need for complex cabling and minimising upfront costs. Additionally, the distributed nature of the mesh network allows for effortless scalability, seamlessly integrating more devices as needed without significant infrastructure changes.
Moreover, Spintly's architecture facilitates intelligent and distributed processing at the edge of the IoT network, empowering devices to communicate and make data-driven decisions based on local information. This eliminates the need for a central processing unit, reducing reliance on centralised hardware and enhancing system efficiency and reliability.
How does Spintly intend to allocate and deploy the funds raised in its recent funding round?
Most of the funds will be allocated towards fueling growth, focusing primarily on expanding its presence in both Indian and US markets. A significant portion of these funds will be directed towards strategic investments in marketing, sales, and business development initiatives. Additionally, Spintly plans to allocate resources to R&D, aiming to further expand its product and technology portfolio.
How is Spintly addressing prevalent problems in the Smart Building space? How are Spintly's solutions, which have been adopted by prominent customers such as Manipal Hospitals and Tata Consumer Products, facilitating seamless operations for manufacturers?
Traditional access control systems often lack flexibility, control, and integration with modern cloud and software platforms, relying on physical means of access such as badges, keys, or fobs. These methods not only pose security risks but also create management challenges. Biometric access control using fingerprint or facial recognition devices is not scalable for large organisations with offices in multiple locations. Spintly addresses these limitations with a cost-effective wireless, smartphone-based physical access control solution for visitor and attendance management in commercial and residential buildings.
Spintly's solutions have made a significant impact on various sectors, serving customers like Manipal Hospitals across 32 sites and Tata Consumer Products across 11 sites. Collaborations with industry leaders such as JLL, Anarock, and Brookfield Properties in India and globally have notably enhanced access management and tenant satisfaction across multiple locations. With over 250,000 users and an annual recurring revenue (ARR) growth of 300 per cent in 2023, Spintly has demonstrated its ability to streamline operations and simplify infrastructure without extensive cabling or additional hardware. This not only reduces costs for customers but also positively impacts their bottom line.
In the year 2021, Spintly relocated its entire contract manufacturing to India. How has this strategic move impacted on your business growth and market opportunity? What triggered the relocation to India?
In 2021, Spintly relocated its entire contract manufacturing to India, prompted by significant challenges encountered during the COVID-19 pandemic. Disruptions in global trade halted production, leading Spintly to swiftly transition its manufacturing operations to India. Despite initial setbacks, the move proved pivotal for Spintly's business growth and market opportunity. By partnering with local manufacturers in Gujarat and Tamil Nadu, Spintly not only addressed immediate supply chain challenges but also supported local manufacturing, generating employment opportunities within India. This strategic shift enabled Spintly to control hardware costs and lead times, enhancing its competitiveness in the market.
Kindly highlight the company's strategic milestones and expansion plans.
Spintly has forged partnerships with five of the largest global property management firms, representing a significant milestone in its growth trajectory. Additionally, Spintly has integrated its technology stack with major tech players, such as Cisco Meraki, facilitating the seamless incorporation of video analytics into its platform. Another key achievement is the successful launch of smart locks in collaboration with Godrej, a prominent partnership in the Indian market. Furthermore, Spintly has expanded its operations beyond India into the Middle East and the US. By targeting these new markets, Spintly aims to capitalise on emerging opportunities and solidify its presence within the smart building industry.
How has Spintly evolved since being a part of Accel's pre-seed accelerator program Atoms 3.0?
3.0 has proven to be transformative for Spintly, catalysing significant growth and development. By tapping into Accel's extensive network, particularly within the enterprise and real estate sectors, Spintly has gained access to valuable resources and opportunities. This program has helped foster strategic thinking, refine its GTM strategy, and provided guidance for Spintly's continued evolution and success.