Glue secured $5.4M, eyes British expansion.
Glue, a Stockholm, Sweden-based company providing a mobile software solution for unlocking doors, completed a SEK 50M ($5.4M) capital investment round.
The money was provided by new and existing investors, including Lundin Petroleum, Ashley Heppenstall, Jonas Nordlander, Filip Engelbert, Per Brilioth and Karl-Johan Persson. Funding will be used to support the company's efforts to expand in the UK, expected to happen in the second part of 2019.
Glue, founded in 2014 by Diego Oliva and Carl Johan Grandinson (CEO), developed a smartphone solution that replaces the physical key with an app. The solution is used by companies in order to provide smart access to homes, workplaces and common spaces to optimize delivery services.