AppyWay, the kerbside management and smart parking technology firm, has announced the launch of its £20 million Series B funding round. This will be used to support organic growth of the platform, strategic acquisitions, further technological investment and international scalability.
AppyWay is helping to digitise and integrate what is a highly fragmented, but high potential, market for mobility, offering an advanced platform of accurate, standardised data, APIs and tools for smart kerbside management in the world.
It does this through effectively digitising the kerb, utilising IoT sensors to establish robust kerbside demand data, further enriching this via a wide range of sources such as payment operators, navigation and traffic solutions, mobility and last mile operators, mobile as a service (MaaS) apps, electric vehicle and infrastructure apps, plus a variety of other tools.
Through one Mobility API, AppyWay’s proposition helps to rejuvenate high streets by addressing parking difficulties, easing congestion, reducing pollution and improving air quality to create smarter, cleaner, efficient cities, more important than ever as a result of the Covid-19 pandemic. It also helps raise safety standards and enables kerbside compliance for drivers, fleets, and CAVs.
As part of its organic growth, AppyWay plans to invest in data capture and improving parking yield. It will also put money into data as a service (DaaS) for mobility service providers and vehicle original equipment manufacturers. Its broader strategy around acquisitions is to accelerate city adoption and expand product functionality.
The new funding will build on the £10.8 million raised to date, including a £7.6 million Series A round that drew in blue-chip investors including Sumitomo Corporation, Hyundai Motor Company and Aviva Ventures, West Hill Capital and Breed Reply. These funds were used to grow AppyWay’s world class mobility team, expand its Sales and Marketing functions, and accelerate new product and IP development.
Founded by Dan Hubert in 2013, AppyWay began mapping all of Greater London’s restricted road network in high definition, up to an accuracy of three centimetres. It now hosts the largest dataset of the UK’s kerbside restrictions which is aligned with the recently announced data standard by the Alliance of Parking Data Standards (APDS).
“AppyWay helps pave the way for a new era of smart cities through digital infrastructure and is led by a world class management team,” says Jon Edirmanasinghe, partner at Cavendish Corporate Finance, which is managing the fund raising. “The business occupies a unique market position by utilising IoT, alongside a wide and established partner network, to enable seamless end-to-end journeys for drivers of today and connected cities of the future. The business has built a significant sales pipeline and Series B funds will enable it to continue building on the strong commercial traction it has already achieved.”
