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Investment, Venture Capital

Chinese Smart Parking Data Firm EZParking Completes $13.3M Funding Round

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EZParking, a Chinese big data start-up focused on facilitating smart car parking, has completed a RMB90 million (US$13.3 million) new funding round led by Hangzhou-based agricultural material and trading company, ZJAMP Holding Group.

The Shanghai-based start-up says it plans to use the proceeds to improve its data mining technology, focus on customer services, as well as enhancing research and development.

Established in 2009, EZParking collects data from parking garages and individual cars, allowing drivers to find the nearest available parking space, make online payments, and reserve parking spaces in advance. It also provides the systems managing over 200 smart parking garages in Beijing and other cities.

Just last month, Dalian Wanda Group’s e-commerce platform Ffan.com led a RMB1.55 billion (US$230 million) series B funding round in a similar smart parking mobile app operator ETCP.

Earlier this year in February, Tencent Holdings Ltd., Shenzhen Co-win Venture Capital Investment Ltd. and other investors invested RMB80 million (US$12 million) in Parkbees, a Shenzhen-based start-up operating car parking apps.



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