Last week saw the launch of OckCorp’s TEO padlock on Kickstarter, the world’s first smart padlock. Now we know that there are other smart locks already out there, but what makes the TEO a first is the fact that it is, well, a padlock that you can unlock with your smartphone.

The TEO is the brainchild of Gord Duncan, who envisaged the piece of tech when, according to an interview he had with Apple Insider, he had rented an SUV in Costa Rica and was haunted by the idea of losing his keys.

The lock works via its dedicated TEO app (So far available only for iOS, but an Android app is on its way.) and your phone’s Bluetooth connection. This opens up quite a lot of options for the lock, as you can send keys to other app users, which can be valid for once-off use, a few hours, or permanently. The app itself will also be able track locations and even send alarms to users.

So far the TEO is scheduled for a December release once OckCorp has sorted some issues, most notably the lock’s battery life. Assuming they get the funding in on time, that is. The TEO padlock has secured $43,000 of its $165,000 goal so far.

Source: The Verge