AirBolt, an Australian startup pioneering the consumer and business tracking and access domain, has secured US$ 2 million in a Seed funding round led by 72Capital on 9 September 2021.
Investors: The latest investment round featured 72Capital as the lead investor. The startup has managed to raise, in total, US$ 3.3 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the latest round towards increasing the pace of its expansion plans to introduce a new class of connected devices and worldwide collaborations. The funding will stimulate aggressive international expansion and aid the firm in enhancing its live tracking offering.
Brought to existence in 2021 by Kabir Sidhu, AirBolt is one of the most rapid-growing firms in the assets tracking and smart access industry for businesses and consumers. Some of its products include the world’s first Bluetooth-driven smart travel sized lock, NB-IoT tracker award-winning smart travel lock and a GPS of tomorrow. The startup envisages empowering the people to advance daily with peace of mind and the finest tech. Although fundamentally based in Australia, the company caters to a number of users spread across different geographies and has established partnerships with globally leading distributors. The firm is set to deliver GPS units in the second half of 2021. It persists to expand its presence in the US and European market through its vital recruits and network.
What the Founder has to say: “Our startup’s somewhat unique in the hardware industry, and we have witnessed huge profits since our inception. We didn’t attempt to secure funds in the form of any outside capital, owing to the financial support showcased by our initial investors. However, we decided to raise additional capital since we intend to define new goals to emerge as a leader in the tracking and access industry.”- Kabir Sidhu, Founder of AirBolt.
What the Investor has to say: “AirBolt’s establishment by Kabir is evidence of the commitment and diligence required by an Australian corporation to achieve success on a global level. It is exhilarating to back the AirBolt team at a phase that seeks to modify its SaaS equipped devices. We wish to develop a long-term healthy relationship with AirBolt as it persists in offering the best experience in the market.”- Kathrin Mutinelli, Manager Director at 72Capital.
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