London, 16 July 2019: Breed Reply, an investor in Internet of Things (IoT) businesses, has participated in the successful £7.6 million Series A funding round for AppyParking, the kerbside management and mobility technology firm. AppyParking is transforming parking for motorists and empowering local authorities and car park operators to manage their assets better. Breed Reply first invested in AppyParking in September 2017.
The funding round includes new strategic investment from Hyundai Motor Corporation and Sumitomo Corporation. West Hill Capital, the London based venture capital firm, led the round, with participation from existing investors Breed Reply and Aviva Ventures. The investment brings AppyParking’s total funding since launch to over £11 million and will enable the company to accelerate product development, support domestic and international growth and continue to expand their talented team.
Founded in 2013 with the launch of their award-winning smart parking app, AppyParking is on a mission to make parking forgettable and help prepare cities for the rise of autonomous vehicles. They were the first company in the world to focus on the need to create a ‘digital infrastructure twin’ of all kerbside restrictions to enable better access for all types of road-users.
Last year, the Company began mapping all of Greater London’s restricted road network in high definition, up to an accuracy of 3cm. AppyParking now hosts the largest dataset of the UK’s kerbside restrictions which is aligned with the recently announced data standard by the Alliance of Parking Data Standards (APDS), with over 400 towns and cities forecasted to be mapped by the end of this year.
Dan Hubert, Founder and CEO of AppyParkin, 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.
“It’s a real achievement for the whole team to secure gthis 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.”
Emanuele Angelidis, CEO of Breed Reply, said: “This is a significant milestone for Dan and the team at AppyParking. AppyParking is a great example of a real word application of IoT technology. Cities across of the world are faced with the problems of how to deal with congestion, improve air quality, and preparing for autonomous vehicles. AppyParking has demonstrated the success of its technology in terms of helping to meet these challenges.. The investment by major corporations such as Hyundai and Sumitomo in this funding round is a major endorsement of their progress. We look forward to working with Dan and the team to support the continued growth of AppyParking.”
Contacts Newgate Communications +44 (0)20 3757 6880 Robin Tozer / Ian Silvera firstname.lastname@example.org
About Breed Reply
Breed Reply, Reply's active operational investor, funds and supports the development of early-stage companies in the Internet of Things (IoT) in Europe and the USA. Based in London, with operational offices in Germany and Italy, Breed Reply supports entrepreneurs and young talent by quickly bringing new ideas to the market. This is done via three fundamental services: funding at early-stage level; active operational involvement with significant know how transfer of business, managerial and technological expertise; and go-to-market support through the extensive Reply network. Breed Reply’s focus is the Internet of Things over all markets, with their current portfolio in Health, Fitness & Wellness, Smart Building & Cities, Security, Industrial IoT, Big Data, Platforms and Drones.
AppyParking is on a mission to make parking a truly forgettable experience. We understand how fragmented infrastructures and stand-alone solutions cause stress and hassle for the most mundane of daily tasks, like finding and paying for a parking space. We know there’s a better way of doing things and so we’re building innovative and future-ready solutions from the bottom up, to improve the way parking is accessed and managed.
Our holistic kerbside management platform provides a ‘future of mobility’ conduit between the private and public sector, ensuring standardised kerbside data can flow between local authorities and mobility operators, unlocking the barriers that hinder the adoption of intelligent mobility solutions and ultimately make the kerb work for everyone, physically, socially and commercially.