The UK start-up has closed a £7.6m series A funding round which will help it make the kerb work for everyone, physically, socially and commercially.
Kerbside management and mobility technology firm, AppyParking, has closed a £7.6m series A funding round.
The latest round includes new strategic investment from Hyundai Motor Company and Sumitomo Corporation. It was led by London-based venture capital firm, West Hill Capital, with participation from existing investors Aviva Ventures and Breed Reply.
The investment brings AppyParking’s total funding since launch to over £11m and will enable the company to accelerate product development, support domestic and international growth, and help “unlock intelligent mobility”.
According to the company, its holistic kerbside management platform provides a “future of mobility” conduit between the private and public sector, ensuring standardised kerbside data can flow between local authorities and mobility operators.
The aim is to unlock the barriers that hinder the adoption of intelligent mobility solutions and ultimately make the kerb work for everyone, physically, socially and commercially.
“Across the world smart city projects are underway to develop autonomous vehicle and intelligent mobility solutions to help save our cities from grinding to a standstill,” said Dan Hubert, founder and CEO of AppyParking.
“We believe that parking and kerbside access are key components to enable the full potential of any future mobility strategy”
“The challenge is real and technological innovation is racing ahead of the legacy infrastructure in place to manage a key piece of city real estate – the kerb. By empowering local authorities with the tools that help them better manage and open up their kerbside, we’re helping them to address key issues like congestion and air quality, whilst also laying the future foundations for truly sustainable intelligent mobility.”
Founded in 2013 with the launch of a smart parking app, AppyParking said it is on a mission to make parking forgettable and help prepare cities for the rise of autonomous vehicles. The company claims it was the first company in the world to focus on the need to create a digital infrastructure twin of all kerbside restrictions to enable better access for all types of road-users.
Last year, the company began mapping all of Greater London’s restricted road network in high definition, up to an accuracy of 3cm. AppyParking, reportedly, hosts the largest dataset of the UK’s kerbside restrictions which is aligned with the recently announced data standard by the Alliance of Parking Data Standards (APDS).
“We believe that parking and kerbside access are key components to enable the full potential of any future mobility strategy,” added Dr Yun-seong Hwang, vice president of Hyundai Motor Company.
“We recognise that AppyParking’s competencies and technology could solve important parts of the mobility ecosystem and this aligns with Hyundai’s strategic vision.”
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