Keyless "smart" locks are popular for both single-family and multifamily housing, and there hasn't been a lack of providers out there. However, one company is saying it's all noise: "a lot of crowdfunding campaigns and a lot less product delivery," writes Tech Crunch.

After years of focusing on product development, New York-based Latch is now entering manufacturing.

The startup is now ready to start manufacturing its first smart lock product, which is targeted at the enterprise market, and specifically aims to address multi-occupancy apartment blocks such as mansion blocks and/or offices (rather than being intended for front doors of individual apartments). It’s also coming out of stealth proper to discuss the product, the eponymous Latch Lock, and disclose how much funding it’s raised — announcing a $10.5 million Series A round led by Lux Capital today.
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