Based in Ankara and founded by Dinçer Sözütok, Gökhan Tekir, İsmail Baysal and Çağrı Mehmet Çalış, the Turkish IoT startup Onlock, has announced the new seed investment. Having developed smart locks that can be controlled via mobile devices, Onlock aims to develop different IoT products for homes and offices with the investment.
After successfully completing the StartersHub XO 2017 program, and receiving an investment, Onlock will go into serial production. Onlock started with a donation of 150 thousand TL from TÜBİTAK and a 20 thousand dollar pre-seed investment from StartersHub Now Onlock has taken an undisclosed investment from StartersHub and Viveka and raised its valuation to 1.15 million dollars.
Expanding the target product range
Dincer Sözütok, one of the founding partners of Onlock, said in a statement: “Smart lock technology has an important potential in the global market with the plug-and-play model that can be easily integrated to any door. As a Turkish IoT startup, we will use our investments from StartersHub and Viveka to expand our production line to expand our IoT product range for home and office.”
The startup attempts to leave lost keys in history with its secure system where you can unlock door locks through your mobile phone or smart watch. The Onlock smart lock system, which uses double-layer end-to-end encryption, protects user data and permissions from banking-level security technologies.
A further remarkable feature of the Onlock is its easy installation support. Thanks to the system which can be integrated without changing the existing door cores, the Onlock installation can be performed quickly. The current pre-order price is 149 dollars.