Kerbside management and mobility technology firm AppyParking has announced that the company has just closed 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 aims to enable the company to accelerate product development, support domestic and international growth and continue to expand their talented team.
Dan Hubert, Founder and CEO of AppyParking said, ‘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.’
‘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,’ added Hubert.