Bitwards investor fundraising boosted its plans for international expansion. Bitwards creates secure, smart key technology and has developed an open platform to support users’ changing needs regarding properties and spaces. The technology converts phones into smart keys that allow access everywhere. The platform and the growing number of partners let property owners and tenants use their spaces flexibly and efficiently, thus increasing business opportunities and usage of the premises.
Bitwards’ partners are expert lock manufacturers, security integrators, resellers, and IT companies providing digital services to properties.
Open technology enables compatibility among different systems and a standardized procedure to turn phones into keys anywhere. It’s available to all security technology companies globally, as the solution is scalable and works with any locking system. The key itself is in the phone, which is standard already.
‘Manufacturers have so far created their own closed solutions, which has created compatibility issues and limited a customer-oriented approach. The open platform is the only way to implement compatibility and create a global standardized access solution’, explains Bitwards’ CEO Eljas Saastamoinen.
One of the company’s main goals since its founding in 2016 was to find fast and effortless solutions to all locking-related issues, independently from place and time.
‘Our technology is similar to security solutions used with mobile pay, and its roots are, among others, firmly in the Nokia research department’, says Mr Saastamoinen. ‘We will use the new investments mainly in global marketing and promoting sales of our distribution channels’.
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Bitwards is a pioneer in digital access. We convert mobile phones into smart keys for universal access to anything. The solution is ready to use in a day and with just a fraction of the cost of traditional access control systems. The Open Access Platform offers real estate owners and security companies new business opportunities. The solution increases the utilisation rate and value of your real estate. We are growing globally with the mission of digitising the world’s 40 Billion doors. Our latest revenue was approximately 500 000 Euros. We employ 14 digital access experts.
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