AppyParking paves the way for intelligent mobility with £7.6m Series A funding

A mobility tech firm aiming to transform parking has closed a £7.6m Series A investment round.

AppyParking has secured the funding in a round led by London-based West Hill Capital, with participation from Hyundai Motor Corporation, Sumitomo Corporation, Aviva Ventures and Breed Reply.

Launched in 2013, AppyParking specialises in mapping road networks and parking facilities, and has created an ‘digital infrastructure twin’ of kerbside restrictions in Greater London with plans to roll out similar mapping in 400 cities by the end of the year.

Dan Hubert, founder and CEO of AppyParking commented: “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.

“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.

“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. Work is already underway to take our mission global as we aim to make the humble kerb work for everyone, and help cities thrive.”

This latest round brings AppyParking’s total funding to £11m, with the firm planning to use the investment to boost its international expansion.

Takashi Yamana, president and CEO of Sumitomo Corporation Europe, commented: “With existing mobility service across the Nordic region and ‘Smart City’ projects in Europe and Asia, we expect through this investment we can harness AppyParking’s technology and innovative approach to support these existing businesses, whilst helping accelerate their growth internationally.”

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.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.