WILLLOWMORE has raised a Series A+ round from Seeds Capital, the investment arm of government agency Enterprise Singapore. The company did not disclose the amount raised, but data platform Venturecap Insights put the total Series A round at US$3 million, led by Greenwillow Capital with its Oriza Greenwillow Technology Fund.
Willowmore started out producing smart locks that can be unlocked using Bluetooth technology, and now it has ventured into facilities management, with its new WMSenseHub 2.x platform in 2022. This platform integrates sensors and CCTV cameras with Willowmore’s smart access technology.
The company is present in Singapore and Indonesia, and is the largest smart lock player in the island archipelago. Customers of Willowmore include security firm Certis Cisco, Prosegur, Indonesian telco Telkomsel and Singapore’s water agency PUB. Customers have also been lined up for Willowmore’s new smart facilities management solutions.
The smart access control provider will use the funds to grow its current Singapore market and expand beyond, as well as drive development of technology solutions. The funds will also be used for additional research and development investments, including expanding the product range of smart locks and security solutions, as well as artificial intelligence capabilities.
“We are happy to support innovative Singapore companies like Willowmore as they continue research and development efforts and push technological boundaries. Through tapping Enterprise Singapore’s global networks, we also aim to help Willowmore expand its international footprint to new markets like Malaysia and Australia,” said Tan Kaixin, general manager, Seeds Capital.
Willowmore will also be increasing its headcount over the next year, with a planned 50 per cent increase of the sales and engineering team.