Nuki Home Solutions closes a funding round of more than 20 million euros
Austria: Nuki Home Solutions, based in Graz, specializing in smart access solutions, has announced the closing of a new financing round, amounting to more than 20 million euros.
Cipio Partners invests in the company Nuki Home Solutions GmbH based in Graz. The capital will be used to extend market leadership in Europe.
The venture capital investment management and advisory firm, Cipio Partners, is investing in Nuki for the first time and taking a minority stake in the company. Existing investors Up to Eleven, Fortuna and Venta also participated in the round, while Allegion PLC ceased to be a shareholder but remains a strategic partner going forward.
As one of the leading providers of home improvement and smart access solutions in Europe, Nuki aims to revolutionize access to homes.
The flagship product is the Nuki Smart Lock 2.0, an electronic door lock. In combination with the Nuki smartphone app and a wide range of integration options in well-known smart home systems, the company claims to offer its users a significant advantage in terms of comfort and security around the door.
With the Nuki Opener, another flagship product in the company’s portfolio, the entrance doors of apartment buildings can be opened via the intercom using a smartphone. In addition, Nuki offers a range of accessories, such as the keyboard and the key ring, which allow access without a smartphone.
Cipio Partners is a leading investment management and advisory firm for European development capital and minority buyouts for technology companies.
Alexander Brand, Managing Partner of Cipio Partners, said, “The smart home market is in an investment frenzy these days. We believe that Nuki – with its leading product offering, clear value propositions for its users, multi-channel presence and substantial revenue – is one of the most compelling investment propositions around. “
Nuki Co-Founder and CEO Martin Pansy said, “The smart access market is growing exponentially. I am proud that Nuki is significantly driving these developments as a market leader in Europe.
“With this round of investment, we can consistently advance our vision of revolutionizing access to housing,” he added.
Since Nuki’s market launch in 2016, the company has grown into a market leader in smart access and modernization solutions in Europe.
Pansy said: “The potential that exists in the market is huge – the digitization of keys and locks is just beginning. Through the continuous development of our products and sales channels, we will open up exciting new segments for Nuki in the future. “
Nuki only recently launched the Smart Door, which integrates all functionality directly into the door as part of the Works with Nuki program. Starting this fall, Nuki’s proven smart technology will be available as a kit for direct installation in a motorized door for new buildings and renovation projects.
To achieve its goals, Nuki announces that it will more than double its current team of 100 employees in the coming years. At the company headquarters in Graz alone, more than 10 million euros will be invested in the development of new products and technologies.