Munich-based sustainable tech startup Cleverciti raises $5.6 million in Series A+ funding to lead the smart parking revolution and reduce traffic and emissions
Cleverciti is a Munich, Germany-based sustainable tech startup that develops parking sensors that enable cities and parking operators to manage their on-street parking in a smart and efficient way. Using its patent-pending sensor technology, Celeverciti is able to analyze parking spaces along the streets with an update of every 3 seconds and send real-time data about the status (available, occupied) to the Cleverciti Cockpit or the Cleverciti App to cities, parking operators, or motorists.
Today, Cleverciti announced it has raised $5.6 million in Series A+ funding to expand its sales and marketing activities as well as accelerate deployment of its parking Solution as a Service (SaaS). The investment, which brings Cleverciti’s total funding since inception in 2015 to $28.3 million, was led by SPDG Ventures, including The Westly Group, EnBW New Ventures (ENV), and KfW. All existing institutional investors also participated in the round.
Founded in 2012 by CEO Thomas Hohenacker, and Konrad Prinz-Dreher, Cleverciti’s smart parking solutions help cities and organizations reduce traffic and emissions and increase parking and shopping revenue while allowing drivers to enjoy a smooth, stress-free arrival experience. The international Cleverciti team consists of some of the brightest and most experienced experts from the fields of IoT, AI, and parking. Cleverciti’s headquarters are in Munich, Germany, and Atlanta, the US, and their global sales and customer support organizations are designed to meet customer needs around the world.
Cleverciti has been deployed in a wide variety of use cases across the globe – at over 200 locations in over 20 countries. One of Cleverciti’s latest large-scale installations is the comprehensive on-street parking guidance in Cologne that launched in June 2020. Drivers have now guided turn-by-turn to an available on-street parking space with Cleverciti’s innovative digital signs on each street corner and a mobile app.
Since pioneering its edge-computing, AI-based IoT sensors, 360-degree guidance solutions, and vehicle location cards, Cleverciti has solidified its place as the technology leader in smart parking solutions and services. The sensors and digital signs are typically mounted on lampposts and up to 100 spaces can be monitored by a single sensor. Vehicle location cards identify the precise location of a vehicle in a parking area and automate payment and permits. With deployments in smart cities, park & rides, shopping malls, hospitals, and corporate campuses, Cleverciti is defining the future of smart parking with innovative technologies.
Commenting on the funding, Thomas Hohenacker, CEO and David Parker, COO, said, “We must reduce CO2 emissions, make our cities smarter and more livable and reduce wasted time and energy. Cleverciti makes an immediate impact in each of these areas, by allowing drivers to use our smart parking data and turn-by-turn guidance systems to park quickly and seamlessly.”