Parakey

Series A · IoT & Sensors · Gothenburg, Sweden · Founded 2014 · 25–35 employees

Parakey is a Gothenburg-based proptech company developing a cloud and smartphone-based access control system that replaces traditional physical keys with mobile keys distributed via an encrypted Bluetooth connection — no internet required at the point of entry. Founded in 2014 by four Chalmers University alumni, the company has grown to become the Nordic region's largest supplier of mobile access, reaching 400,000 unique users and 40 million unlocks by January 2024. Their subscription-based platform serves major real estate clients including Wallenstam, Stena Fastigheter, and Fabege, and the hardware product line spans from retrofit slim units to full digital lock cylinders and door handles. The company raised SEK 28 million in a 2022 funding round (its Series C) and has expanded into Norway, with further international growth planned.

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