Nuki closes €20m+ financing round
Austria: Graz-based Nuki Home Solutions, which specialises in smart access solutions, has announced the closing of a new financing round, worth more than €20 million.
Cipio Partners invests in the Graz-based company Nuki Home Solutions GmbH. The capital will be used to expand market leadership in Europe.
Growth capital investment management and advisory firm, Cipio Partners, is investing in Nuki for the first time and takes over a minority stake in the company. Existing investors Up to Eleven, Fortuna and Venta also participated in the round, while Allegion PLC has ceased to be a shareholder but remains as a strategic partner in the future.
As one of the leading providers of retrofit, smart access solutions in Europe, Nuki is aiming to revolutionise access to homes.
The core 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 plus in convenience and security around the door.
With the Nuki Opener, another main product in the company’s portfolio, entrance doors of apartment buildings can be opened via the intercom by using a smartphone. Additionally, Nuki provides a range of accessories, like the Keypad and the Fob, that allow access without a smartphone.
Cipio Partners is a leading investment management and consulting firm for European growth 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 Nuki – with its leading product offering, clear value propositions to its users, multi-channel presence and substantial revenues – is one of the most compelling investment propositions around.”
Nuki co-founder and CEO, Martin Pansy, said: “The market for smart access is growing exponentially. I am proud that Nuki is significantly driving these developments as the market leader in Europe.
“With this investment round we can consistently advance our vision of revolutionising the access to homes,” he added.
Since Nuki’s market launch in 2016, the company has grown to be a market leader for smart, retrofit access solutions in Europe.
Pansy said: “The potential that is out there on the market is enormous – the digitalisation of keys and locks is only just beginning. Through continuous development of our products and sales channels, we will open up further exciting segments for Nuki in the future.”
Nuki only recently launched the Smart Door, which integrates all features directly into the door as part of the Works with Nuki programme. From this autumn, the tried and tested smart technology from Nuki will be available as a set for direct installation in a motorised door for new buildings and renovation projects.
To achieve its goals, Nuki says it will more than double its current team of 100 employees in the coming years. At the company’s headquarters in Graz alone, over €10 million will be invested in the development of new products and technologies.