Access control tech firm Oloid raises $12-M from Dell, Honeywell, Okta Ventures, others

Sunnyvale, CA (USA)- and Bangalore-based software-as-a-service (SaaS) firm Oloid has raised USD 12 million in a Series A round led by Dell Technologies Capital, with participation from Honeywell Ventures, Okta Ventures and other existing investors. The funding, which brings Oloid's total raised since inception to USD 17 million, will be used to help expand its retrofit access control products portfolio and the team in Bengaluru and Silicon Valley. Oloid is accelerating the adoption of mobile access by introducing an easy, self-install SaaS model that avoids the cost and resource constraints that traditionally plague the physical access control market. The startup had raised USD 5 million in its seed round in August 2019 from Emergent Ventures and Jyoti Bansal, co-founder and entrepreneurial partner at Unusual Ventures.