AppyParking, the mobility technology firm that is transforming parking for motorists and empowering local authorities and car park operators to better manage their assets, has announced a £7.6 million Series A round.
The funding round includes new strategic investment from Hyundai Motor Corporation and Sumitomo Corporation. It was led by West Hill Capital, the London based venture capital firm, with participation from existing investors Aviva Ventures and Breed Reply.
The investment brings AppyParking’s total funding since launch to over £11 million and will enable the company to accelerate product development, support domestic and international growth and continue to expand their talented team.
Founded in 2013 with the launch of their award-winning smart parking app, AppyParking is on a mission to make parking forgettable and help prepare cities for the rise of autonomous vehicles.
They were 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.
Dan Hubert, Founder and CEO of AppyParking: “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. 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.
“It’s a real achievement for the whole team to secure this investment and I’m extremely excited to have Hyundai and Sumitomo on board to support our mission.”
Dr. Yun-seong Hwang, Vice President of Hyundai Motor Company added: “We believe that parking and kerbside access are key components to enable the full potential of any future mobility strategy. We recognize that AppyParking’s competencies and technology could solve important parts of the mobility ecosystem and this aligns with Hyundai’s strategic vision.”