Statkraft Ventures, the strategic investment arm of power producer Statkraft, has led a €5m ($6.1m) series A round for Netherlands-based parking access provider ParkBee.
InnovationQuarter, the Dutch regional development agency that backed the company’s $2m seed round in October 2016, also participated in the series A round.
ParkBee has developed a platform that enables the public to access private car parks by optimising unused spaces during slow periods.
The startup has signed up more than 60 car parks in its home country and the series A cash will fuel expansion in the UK, where its network has more than 20 car parks in capital city London alone. It also intends to grow its headcount from 10 to 25.
Stefan Hülsen, a senior investment manager at Statkraft Ventures, said: “While populations in numerous cities are becoming denser, the infrastructure isn’t necessarily in the right state to deal with an increased demand.
“By making optimal use of the parking spots that are already available ParkBee opens up new opportunities to park. ParkBee is a prime example of a company enabling cities to become smarter and fairer, while empowering citizens and businesses to improve and solve a problem.”