Yptokey realizes first financing round
The software start-up intends to use the funds to advance the development of its products.
The Berlin start-up Yptkokey has successfully completed its first round of financing. Totara Investment Club and IBB Ventures, a subsidiary of Berliner Investitionsbank, have invested in the start-up. Yptokey did not disclose the amount of the investment.
Yptokey offers a software solution for digital access to buildings and vehicles. The smartphone acts as a key. "We are seeing increasing demand for mobile access solutions across all property types," said Matthias Fuchs, Partner at the managing member of the Investment Club, the Kauri CAB Group, in a statement. "Yptokey is actively shaping this change by using decentralized technologies in a targeted manner to meet current and future customer requirements."
Yptokey was founded in 2018 as a spin-off of automotive supplier Hella. "We will use the investment to strengthen our development team and pursue our vision - we have already advertised the first positions," says co-founder and CEO Tobias Rasche.
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