Parking app AppyParking raises £2.25m
The former Startups Awards finalist will use the latest injection of funds to expand the number of UK cities it covers - as the app looks to go nationwide
Parking app AppyParking has raised £2.5m in a funding round led by Aviva Ventures, which also included new shareholder Breed Reply.
Available in 20 of the UK’s biggest cities including London, Birmingham, Edinburgh and Manchester, the app helps drivers find the nearest and cheapest on and off–street parking – with all restrictions and tariffs included.
Founded in 2013 by CEO Dan Hubert and launched initially in London, AppyParking aims to “address the fundamental gap between the public and private sector that is hindering Britain’s ambitions to be an autonomous vehicle ready nation”.
Claiming its ‘Smart City dashboard' has already helped eased congestion and reduction pollution on UK roads, the start-up will use the latest injection of funds to expand the number of UK cities it covers – as the app looks to go nationwide.
The news follows the launch of new feature One Click Parking last month, billed as the “the world’s first pay-as-you-park connected car solution”, Appy claim it will reduce average time to park from 20 minutes to 30 seconds, reduce parking fines and support cleaner air initiatives.
Initially rolling out in Westminster, the feature will roll-out nationwide in 2018.
Just two months later in January 2016, the London-based start-up raised $1.5m in seed funding from Aviva, which it used to add a new feature that would help drivers find cheaper fuel prices.
With an extended deadline of 22 September 2017, app-based businesses are being urged to apply for the Startups Awards 2017 and one of the 16 categories up for grabs – such as The Start Up Loans Start-up of the Year, Crowdfunded Business of the Year, Tech Business of the Year and App of the Year.
“To receive this funding from Aviva, the UK’s largest car insurer and Breed Reply is a great endorsement of all the work my team have done so far.
“Our vision has always been to offer drivers Last Metre Navigation and functionality, and ultimately make parking a truly forgettable experience. This investment brings us one step closer to achieving our goal.”
Emanuele Angelidis, CEO of Breed Reply, said:
“AppyParking has quickly established itself as a must have app for drivers but also has exciting applications in terms of fleet management and helping the creation of smart cities.
“Dan and the team have done a brilliant job so far and we are excited about helping them grow and deliver their ambitious plans for the business.”
Ben Luckett, managing director at Aviva Investors, said:
“People are already using a variety of technologies in their car to make driving simpler and safer and AppyParking has a great solution that uses data in an innovative way to take away the pain of parking in cities around the world.
“We see data-driven solutions like theirs will play an increasingly important role as we move to a world of autonomous and connected vehicles. We look forward to working with the team at AppyParking as they grow the business further across the UK.”