After Surviving The ‘Shark Tank’, Unikey Technologies Raises $ 1.1 M In Equity Finance

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Unikey Technologies, a business made recognized by ABC ’ s Shark Storage tank, is raising $ 1.1 M through a private providing according to an SEC filing. This might include added non-debt funds to the business ’ s coffers which also consists of a $ 500,000 outlay stake raised from Mark Cuban and Kevin O ’ Leary earlier this year on period final of the program.

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Unikey identified success on ABC ’ s Shark Tank for great reason: It ’ s an excellent concept. Unikey practically turns smartphones into a house key. Once the Unikey locking system is installed in a door, any sort of paired Android, iOS, or BlackBerry tool can unlock it. The system is not dependent on an app, however rather the system opens the door by merely finding when the phone is in the immediate vicinity. “ As long as I ’ m in array of the lock, I can easily control it, ” said Unikey originator and CEO Phil Dumas on the ABC program.

Cuban and O ’ Leary were rather passionate about the company and Dumas accepted $ 500,000 in exchange for a two seats on the company ’ s board and a 40 % equity stake. This was after one of the program ’ s additional sharks, Robert Herjavec supplied $ 1,000,000 for 75 % of the company. The impressive product relatively created a feeding frenzy among the sharks — each one had a legitimate offer.

As Dumas clarified on the program, his background is in biometric security and while at Sequiam Corp, assisted introduce the first mass-market biometric domestic deadbolt. As we ’ ve undoubtedly all seasoned, biometric security is anything but foolproof. There are a ton of points for prospective failure. This lead Dumas to develop Unikey as a more trustworthy and handy system.

With Unikey a paired phone merely needs to be next to the door to gain accessibility. Plus, the business guarantees a robust individual administration system permitting owners to quickly give and deny access to additional phones — there ’ s even a scheduling system to enable access in the course of merely certain times. A standard key still works with the system, too.

The Unikey is not yet available for purchase or pre-order. Nevertheless, there ’ s a type on the business ’ s website to reserve a spot in the pre-order line and you may would like to put your name down. Unikey tells TechCrunch that they ’ ve had 10s of thousands of sign-ups because appearing on Shark Container.

If you don ’ t mind managing numerous minutes of ads, you can easily see Unikey ’ s Shark Storage tank video footage by clicking to the 28:42 mark. Sorry, the online video USA only, however it ’ s not my fault. Holler at ABC for locking down their video clips.

After Surviving The ‘Shark Tank’, Unikey Technologies Raises $ 1.1 M In Equity Finance

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