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SaaS player Oloid said on Wednesday it raised $12 million in a funding round led by Dell Technologies Capital with participation from Honeywell Ventures, Okta Ventures and other previous investors.
The Series A funding brings Oloid’s total raised since inception to $17 million. It will be used to help expand Oloid’s retrofit access control products portfolio and teams in Bangalore and Silicon Valley.
Oloid intends to use the fresh funds to enhance its products and to pool in tech talent in India. The objective is to double their workforce. The company is currently running a Beta program of its self-install
