Parakey and dormakaba develop professional digital lock

PropTech company Parakey and one of the world's largest suppliers of security products, dormakaba , has initiated a collaboration for the development of a professional digital lock with dormakabase newly developed digital lock case . The digital lock is aimed at commercial real estate companies as well as the new market housing company and its apartment doors for Parakey.

"The need for a secure, flexible and scalable professional digital lock has greatly increased and we see that there will continue to be a great demand for good solutions going forward. In order to meet the demand in the best way, we see it as a matter of course to team up with dormakaba , a leading and innovative player in security products. Developing a digital lock that can be used in several types of door environments is also a natural step in our product offering and our vision with Parakey as a company," says Parakey's CEO Jonas Arvidsson.

Since 2014, Parakey has been developing a product and platform for digital access where the smartphone is the user's digital keychain. The solution is currently used in commercial properties, offices, coworking, gyms and parking. The new digital lock opens up completely new opportunities for mobile access management for commercial property owners and their doors inside the shell protection, but also for multi-family houses as the lock is also suitable for apartment doors.

"The collaboration with Parakey is a step in the right direction when it comes to being at the forefront of digitizing the security industry. It is a valuable investment that we hope will facilitate and cost-effective for many parties. We also get important insights from the market that give us opportunities to continue to develop our digital solutions,"" says Marcus Täck, VP Marketing at dormakaba .

Parakey and dormakaba during 2020 has sought input from the real estate industry to ensure that the professional digital lock that is being developed corresponds to demand and is now working intensively towards a major launch at the end of October. ‍

For more information:

Jonas Arvidsson
CEO, Parakey
jonas@parakey.co
+46 73 183 66 66

Marcus Cover
Vice President Marketing Scanbalt, dormakaba
marcus.taeck @ dormakaba .com
+46 70 818 78 09

About Parakey‍

Parakey AB develops and sells a digital access platform where a smartphone is used to open locked spaces such as offices, garages, etc. A mobile key is distributed digitally via Parakey's access platform to the user and the service is administered via Parakey's web portal or via integration. Parakey currently has over 130,000 unique users with the ability to open locked spaces with their mobiles. More information at www.parakey.co

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About dormakaba‍

As one of three leading companies in the industry, dormakaba a reliable partner for products, solutions and services for accessing buildings and rooms – all from one source. With strong brands, such as Dorma, Kaba and Best, the company and its many partners are represented in over 130 countries worldwide. dormakaba listed on the SIX Swiss Exchange, headquartered in Rümlang (Zurich/Switzerland), approximately 16,000 employees and a turnover of OVER CHF 2.8 billion in the 2018/19 financial year. More information at www. dormakaba .com