Germany-based car parking technology developer Cleverciti Systems has closed a $15m funding round backed by EnBW New Ventures, the corporate venturing arm of energy utility EnBW.
The round also featured venture capital firm Westly Group and SDPG, the holding company that oversees vehicle importer D’Ieteren Group. SDPG and the European Union’s ERP Startup Fund each invested $1.4m in a $3m round for Cleverciti in 2015 that included an unnamed family office.
Cleverciti has created a smart parking platform that utilises overhead sensors to identify occupied and empty parking bays.
The data is transmitted to Cleverciti’s software, enabling operators to effectively manage their car parks while keeping motorists aware of space availability. The technology is intended to also make it easier for owners of spaces to charge motorists for parking.
The capital will be used to grow Cleverciti’s business internationally. The company expects its relationship with Westly Group to open up partnerships with global utility companies which own data centres integral to smart city development.