Yptokey realizes first financing round

The software start-up wants to use this to advance the development of its products.

The Berlin-based start-up Yptkokey has successfully completed its first round of financing. According to the report, Totara Investment Club and IBB Ventures, a subsidiary of the Berlin Investment Bank, have invested in the start-up. Yptokey did not disclose how high the sum is.

Yptokey offers a software solution for digital access to buildings and vehicles. The smartphone acts as a key in the process. "We see an ever-increasing demand for mobile access solutions across all property types," Matthias Fuchs, a partner at the investment club's managing member, Kauri CAB Group, said in a statement. "Yptokey is actively shaping this change by targeting decentralized technologies to serve current and future customer needs."

Yptokey was founded in 2018 as a spin-off from automotive supplier Hella. "We will use the investment to strengthen our development team and pursue our vision - we have already advertised the first positions for this purpose," says co-founder and CEO Tobias Rasche.

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