AppyWay, a curbside management and smart parking tech startup, is raising $26.3M to provide parking apps and services for drivers
In the UK, the mobility market is already valued in the billions of pounds, and across the world is predicted to be worth around £256 billion by 2025. The global connected vehicle data sector is set to be worth around US$450 billion by 2030, with the value of the global MaaS market exceeding £1 trillion.
In the UK alone, the government has invested well over £200 million into connected and autonomous vehicles (CAV) research and development since 2014, as well as several billion pounds into infrastructure investment for electric vehicles. Enter AppyWay, a London, England-based tech startup that is helping to digitize and integrate what is a highly fragmented, but high potential, the market for mobility. AppyWay is a maker of an app that solves the frustration of finding a parking space. its platform of data, APIs, and tools provide digital curbside management solutions that enable intelligent mobility, better connecting cities with people and businesses.
Today, AppyWay announced it’s raising a $26.3 million (£20 million) Series B funding round to support the organic growth of the platform, strategic acquisitions, further technological investment, and international scalability. The funding was backed by existing blue-chip investors including Hyundai Motor Company, Sumitomo Corporation, and Aviva Ventures.
The new funding builds on the £10.8 million raised to date, including a £7.6 million Series A round that drew in blue-chip investors including Sumitomo Corporation, Hyundai Motor Company, and Aviva Ventures, West Hill Capital, and Breed Reply. These funds were used to grow AppyWay’s world-class mobility team, expand its Sales and Marketing functions, and accelerate new product and IP development.
Founded by Dan Hubert in 2013, AppyWay began mapping all of Greater London’s restricted road network in high definition, up to an accuracy of three centimeters. It 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). AppyWay offers the most advanced platform of accurate, standardized data, APIs, and tools for smart kerbside management in the world.
AppyWay does this through effectively digitizing the curb, utilizing IoT sensors to establish robust kerbside demand data, further enriching this via a wide range of sources such as payment operators, navigation and traffic solutions, mobility and last-mile operators, mobile as a service (MaaS) apps, electric vehicle and infrastructure apps, plus a variety of other tools.
Through one Mobility API, AppyWay’s proposition helps to rejuvenate high streets by addressing parking difficulties, easing congestion, reducing pollution, and improving air quality to create smarter, cleaner, efficient cities, more important than ever as a result of the COVID-19 pandemic. It also helps raise safety standards and enables kerbside compliance for drivers, fleets, and CAVs.
As part of its organic growth, AppyWay plans to invest in data capture and improving parking yield. It will also put money into data as a service (DaaS) for mobility service providers and vehicle original equipment manufacturers. Its broader strategy around acquisitions is to accelerate city adoption and expand product functionality.
Commenting on the funding, Dan Hubert, CEO, and Founder of AppyWay said: “We’re thrilled to announce this funding round, which will help us move further towards our goal of helping local authorities and businesses unlock the potential of their curbs. Whether it is residents, drivers, businesses, and councils, all stand to benefit from the mobility revolution that is underway.