AppyParking raises £7.6m Series A funding led by West Hill Capital
West Hill Capital led the Series A round with backing from Hyundai, Sumitomo, Aviva Ventures, and Breed Reply to fund international growth and product development.
AppyParking builds kerbside management and mobility technology that digitises parking for motorists and authorities. The firm aims to make parking forgettable by creating digital infrastructure twins of road networks.
AppyParking has secured £7.6m in a Series A funding round led by West Hill Capital. The financing included participation from new strategic investors Hyundai Motor Company and Sumitomo Corporation, alongside existing backers Aviva Ventures and Breed Reply. The capital will be deployed to accelerate product development, support domestic and international expansion, and grow the team.
The company has mapped Greater London's restricted road network in high definition and hosts a large dataset of UK kerbside restrictions. Funds will help extend this mapping to over 400 towns and cities by the end of the year, supporting the transition toward intelligent mobility and autonomous vehicle infrastructure.
From the founder
"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. 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."
Dan Hubert
Founder and CEO at AppyParking
Investor perspective
"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 of course helping accelerate their growth internationally."
Takashi Yamana
President and CEO of Sumitomo Corporation Europe, Sumitomo Corporation
Use of funds
- 01Continue product development
- 02Expand into international markets
- 03Grow the team
Investors
West Hill Capital
Yun-seong Hwang
Hyundai Motor Company
Takashi Yamana
Sumitomo Corporation
Aviva Ventures
Breed Reply
Categories
About the company
AppyParking
Kerbside management and mobility technology firm digitising parking for motorists and local authorities.