AccessGrid Secures $4.4M to Transform Phones Into Digital Keys

AccessGrid, a new startup aiming to replace physical keys with smartphone-based digital credentials, has successfully secured $4.4 million in seed funding to advance its mission. The investment round was spearheaded by Harlem Capital, marking a significant step for the company as it seeks to modernize the access control industry.

The venture was founded by Auston Bunsen, who previously co-founded the blockchain infrastructure platform QuickNode. After stepping away from his role there last October, Bunsen turned his attention to a new challenge: enabling people to unlock doors using their iPhones. His concept gained traction after discussions with Apple, which supported his goal of integrating secure digital access into the Apple Wallet ecosystem.

AccessGrid develops specialized APIs that allow businesses to issue and manage uncloneable digital keys directly within Apple Wallet and Google Wallet. A key advantage of the system is its reliability; it functions even when an iPhone is locked, automatically syncs with an Apple Watch, and continues to work if the phone’s battery is depleted. The company officially launched in April and is now focused on scaling its operations.

Bunsen points out that the current access control sector is largely outdated, relying heavily on on-premise systems, unencrypted communications, and physical ID cards that are vulnerable to security breaches. AccessGrid addresses these weaknesses by providing a cloud-based API that issues encrypted, instantly revocable credentials. This approach aims to bring physical security systems up to contemporary standards.

Security remains a primary consideration for a platform handling digital access. Bunsen emphasizes that AccessGrid employs military-grade encryption and dual-encryption protocols. The company also implements multi-factor authentication for server access and adheres to established cybersecurity best practices to protect user data.

Unlike his previous venture, which had multiple co-founders, Bunsen is building AccessGrid independently. He described the fundraising process as a distraction from the core objective of serving customers. The seed round included participation from investors he connected with through his network, including individuals from Exceptional Capital and Spice Capital, as well as support from the HF0 accelerator.

The startup operates in a competitive space that includes companies like SwiftConnect and Sharry. However, Bunsen differentiates AccessGrid by describing it as a “pure play” API developer platform. It does not sell service contracts or middleware for existing hardware, focusing instead on providing a dedicated API solution for developers rather than an end-user application.

The newly acquired funds will be directed toward enhancing the platform’s security infrastructure and developing new products and features. Future plans include expanding into the automotive sector, enabling digital keys for vehicles. Bunsen’s long-term vision is to upgrade access control readers across the United States, creating a world where keys are obsolete. He envisions a seamless experience where authorized entry is granted automatically when an individual approaches a door, making access faster, safer, and more integrated for both people and machines.

(Source: TechCrunch)