ParkBee, a Dutch tech startup, has raised €5 mln to scale up its business in the UK. After growing in Amsterdam, the team is seeking to bring 'affordable and accessible parking' at premium spots to London.
This funding round was led by German-based Statkraft Ventures with participation by existing investors. Statkraft Ventures is backed by the Statkraft Group, Europe's largest generator of renewable energy.
With 60+ locations in the Netherlands and more than 20 locations opened in the last months in the UK, ParkBee uses smart technology to enable users to open up the barriers and doors from the RingGo and Parkmobile apps. The €5 mln investment will help fund ParkBee's wider UK expansion in the near future, with staff numbers rising from 10 to 25 in the coming months.
The funding and expansion will solidify a 'successful entry in the UK market by a European company after Brexit', according to ParkBee.
Finding a place
Parking can be an enormous hassle for anyone driving in London. According to a study published by INRIX, UK drivers spend an average of 44 hours a year searching for parking. This rises in the UK capital to around 67 hours each year, costing the UK economy more than £23 bn (€26 bn) annually in wasted time, fuel and emissions.
Tom Buchmann, co-founder and managing director of ParkBee, commented: ''It’s hard to believe that there are so many unused parking spaces in London, whilst parking in London is such a hassle. In the last two years in the Netherlands, and last months in the UK, we have proven we can open-up these hidden location, that are most of the time behind speed gates or barriers. By partnering with real-estate owners and our integrated solution in the Parkmobile and RingGo app you can now open-up the barrier or speedgate with a click of a button.'
Smart technology
ParkBee says that its technology is compatible with any parking system. ParkBee installs it’s smart hardware at the location and via integrated software the location can be opened remotely via the Parkmobile and RingGo apps. RingGo has 12 million registered users in the UK alone. Real estate owners keep control and can still manage availability of spaces for parking, while ParkBee optimises the occupancy of the location, the company says.
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The March edition of PropertyEU Magazine includes a feature on smart cities.
In addition, PropertyEU Events and Colliers International are holding an investment briefing at MIPIM 2018 in Cannes on
Cities of Influence
14 March
Colliers International boat
8.00-10.00am
PropTech
14 March
Colliers International boat
10:15 - 11:30
