Kerbside management and smart parking firm AppyWay has announced a £20 million Series B funding round to support the growth of the business.
AppyWay’s solution “digitises the kerb” and is designed to address issues around parking, ease congestion to create more efficient cities. It is now planning to invest in data capture and improving parking yield for local authorities managing their parking services to drivers.
The company says the new funding will build on the £10.8 million raised to date, including a £7.6 million Series A round that drew in investors including Sumitomo Corporation, Hyundai Motor Company and Aviva Ventures. These funds were used to grow AppyWay’s mobility team, expand its Sales and Marketing functions, and accelerate new product and IP development.
Dan Hubert, CEO and Founder of AppyWay, said the funding will “help us move further towards our goal of helping local authorities and businesses unlock the potential of their kerbs. Whether it is residents, drivers, businesses and councils, all stand to benefit from the mobility revolution that is underway.”