Oloid Closes $12M Series A Funding to Scale World’s First Software-Based Physical Access Technology
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Tuesday, February 8, 2022
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Oloid , creator of the worlds first software-based physical access technology, today announced the close of its $12 million Series A funding round, led by Dell Technologies Capital with participation from Honeywell Ventures, Okta Ventures and other previous investors.
Key Points:
- Oloid , creator of the worlds first software-based physical access technology, today announced the close of its $12 million Series A funding round, led by Dell Technologies Capital with participation from Honeywell Ventures, Okta Ventures and other previous investors.
- Today, organizations that need to modernize their physical access control must invest in the hardware and installation costs to upgrade each door or turnstile with mobile access.
- Oloid enables frictionless and secure physical identity for the workplace by integrating with existing physical access systems and enables intelligent mobile access or contactless biometrics with minimal hardware cost, via its software and mobile app.
- Oloid is accelerating the adoption of mobile access by introducing an easy, self-install SaaS model that avoids the cost and resource constraints that traditionally plague the physical access control market, said Mohit Garg, Co-founder and CEO of Oloid.