denver– of companies received Series A funding through partnerships with Iron Gate Capital and Kozo Keikaku Engineering.
denver, February 2, 2023 /PRNewswire/ — KoreLock, an emerging IoT smart lock technology company, is pleased to announce funding to support the development and expansion of its smart lock technology and software platform. Private equity firm Iron Gate Capital and engineering firm Kozo Keikaku Engineering, Inc. invested in the company along with management.
KoreLock serves a solid market of lock manufacturers, specialty lock brands, and software companies looking to convert their existing offline locks to cloud-connected smart locks.
“KoreLock addresses market demand for OEM smart lock technology with wireless integrated access control software services,” he said grant walter, President and CEO of KoreLock. “Traditional lock companies have tried to develop their own smart locks, but have abandoned these efforts due to lack of capability to develop their own.”
KoreLock specializes in embedded printed circuit board solutions that help lock manufacturers overcome the complexities of developing connected smart locks, reducing costs and overall time-to-market.
“KoreLock offers a unique access control solution for the lock manufacturing industry, which fits well with our focus on early growth stage B2B technology companies,” said AJ Dye, Partner at Iron Gate Capital.
KoreLock’s patent protected technology is embedded in over 50,000 locking devices in over 65 countries and has been tested and proven for over a decade.
“KoreLock is well-positioned for accelerated growth, backed by partnerships with industry-leading global lock brands,” Walter added. “We are making meaningful investments to expand our team, solutions and customers.”
KoreLock Corporation is an IoT technology company that provides turnkey embedded smart lock solutions that enable door lock or access control hardware manufacturers to build and sell connected locking devices.Corerock Corporation is a privately held company headquartered in Denver, Colorado.
About Iron Gate Capital
Iron Gate Capital, LLC is a nationally recognized deal-by-deal private equity firm investing in market-leading “early growth” technology companies on behalf of more than 60 families.Iron Gate Capital is headquartered in Boulder, Colorado.
About Kozo Keikaku Engineering, Inc. (KKE)
KKE is a professional design and engineering firm that acts as a bridge between academia and business. KKE strives to use engineering expertise acquired through knowledge exchange in different fields to solve various problems and challenges facing society. KKE is located at Tokyo, Japan.
touch: grant walterPresident and Chief Executive Officer, KoreLock, Inc.