December 20th, 2020 – Birmingham, Michigan – CitySide Ventures and Birmingham Angels announces adding PassiveBolt to its portfolio of companies.
Birmingham Angels, a CitySide’s Angels Capital Network, just joined a seed-round investment in PassiveBolt. They are the only company offering white label smart lock hardware and software solutions to home automation companies.
The PassiveBolt platform solution offers both an award winning white label smart lock that automation OEMs can brand and take to market, and a back-end SaaS service delivered via API that unlocks cloud based features. Our solution increases OEM margins by up to 60% (per our OEM interviews), it eliminates the need for in-house cloud back-end creation and maintenance (which saves over $5M according to R-Style Lab). Furthermore, our OEM partners can brand our highly differentiated tech offering benefits to end customers ranging from convenience to security.
Their hardware technology was born out of 3 decades of R&D from the automotive industry leading to robust features. We are using Continental for manufacturing and supply chain support which allows us to be more competitive than incumbents in terms of price, scale, and quality control.
“I am very excited about this company. Security for home and businesses is on the forefront in everyone’s mind. This company has “secured” a bright future.” – David Weaver – Chief Investment Officer at CitySide Ventures
Birmingham Angels’ goal is to become a premier Investment group committed to taking Michigan Angel investing to a new level by building a network of active, progressive, and innovative investors committed to turning Michigan into a powerhouse startup ecosystem.
For more information about Birmingham Angels please visit us at https://citysideventures.com/birmingham-angels/
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