Parakey has raised another 4,5 million SEK to scale up the sales and development.

Parakey, a Gothenburg, Sweden-based company providing a digital key, announced raising another SEK 4,5M ($530k) to scale up the sales and development team, thus looking for new team members who wants to join the journey. The money comes from Almi Invest, Chalmers Ventures and undisclosed private investors.

Parakey, founded in 2014 by Erik Barrefors, Eric Franklin, Jonas Arvidsson (CEO), and Marcus Andersson, developed a mobile application that turns the smartphone into a key making it possible to unlock restricted areas with a simple tap phone. Parakey is used by Swedens larges property owners, including Vasakronan, Castellum and Stena Fastigheter.

Prior to this transaction, Parakey raised a little more than $400k from Chalmers, Qamcom Technologies and Vinnova.