Parakey unlocks $1m

Sweden-based smart lock supplier Parakey has received €880,000 ($1m) in a round backed by Chalmers Ventures, the university venture fund and incubator of Chalmers University of Technology, EU-Startups reported on Friday.
The round also featured angel investors Anders Wennergren, Johannes Lind-Widestam and Louise Grandinson, business development manager at real estate developer Oscar Properties.
Founded in 2014, Parakey has developed a digital lock system for secure spaces through which businesses can allow access by issuing keycodes to the visitor’s smartphone.
The cloud-hosted technology allows clients to provide self-service access and monitor multiple properties.
The capital will enable Parakey to focus on recruitment and marketing in the hope of boosting sales. Lind-Widestam and Grandinson will both join the company’s board of directors.
Chalmers Ventures had previously joined wireless, autonomous and internet-of-things technology supplier Qamcom for Parakey’s $370,000 round in 2016 alongside unnamed angel investors, according to Breakit.