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AppyParking, the award-winning parking and connected car solution, has today announced that it has raised a further £2.25m in funding from major investor Aviva Ventures and from new shareholder, Breed Reply, a leading operational investor in early stage IoT businesses. The new funding will support the Company’s continued growth including mapping more UK cities as it aims to be available nationwide.
Founded in 2013 by CEO Dan Hubert, AppyParking started its life as a London-focused app that gave drivers complete peace of mind about the nearest and cheapest on and off–street parking, and display what restrictions and tariffs apply.
As well as London, it can now be used in 20 of the UK’s biggest cities including Birmingham, Edinburgh and Manchester. AppyParking is now taking the lead to address the fundamental gap between the public and private sector that is hindering Britain’s ambitions to be an autonomous vehicle ready nation. AppyParking’s Smart City dashboard has already begun to empower cities and drivers across the UK resulting in the ease of congestion and a reduction in pollution.
The news follows the launch of new feature One Click Parking™ last month – the world’s first pay-as-you-park connected car solution that will reduce average time to park from 20 minutes to 30 seconds, banishing parking fines and supporting cleaner air initiatives. Initially rolling out in Westminster, the feature will roll-out nationwide in 2018.
On the investment, CEO Dan Hubert said: “To receive this funding from Aviva, the UK’s largest car insurer and Breed Reply is a great endorsement of all the work my team have done so far.
“Our vision has always been to offer drivers Last Metre Navigation™ and functionality, and ultimately make parking a truly forgettable experience. This investment brings us one step closer to achieving our goal.”
Emanuele Angelidis, CEO of Breed Reply, said: “AppyParking has quickly established itself as a must have app for drivers but also has exciting applications in terms of fleet management and helping the creation of smart cities.
“Dan and the team have done a brilliant job so far and we are excited about helping them grow and deliver their ambitious plans for the business.”
Ben Luckett, Managing Director, Aviva Investors, said: “People are already using a variety of technologies in their car to make driving simpler and safer and AppyParking has a great solution that uses data in an innovative way to take away the pain of parking in cities around the world.
“We see data-driven solutions like theirs will play an increasingly important role as we move to a world of autonomous and connected vehicles. We look forward to working with the team at AppyParking as they grow the business further across the UK.”