Israeli lock maker Knock N’Lock raises $3 millionIsraeli start-up, Knock N?Lock has reportedly raised $3 million from Wanaka Capital Partners.
The company, based in Yokneam, has developed a smart lock based on a link between a keypad and a concealed lock. The key, which can be used of anything from offices, to vending machines and armored cars, is a remote which opens the lock when it is placed nearby, and a code inserted. There are no keyholes, or cables.
The five-year-old company has raised $5.5 million since it was founded and employs 45 people. Customers include Coca Cola, and Deutsche Bahn (German National Railways).
The company?s CEO, Ilan Goldman, is an international locksmith who invented the technology. Over the years he has registered 50 patents, many of which were sold to international lock manufacturers.