JomParkir CEO Muhamad Nasir Habizar (R) with TheVentures CEO Chanseong Ho
JomParkir, a startup providing smart parking solutions in Malaysia, has secured an undisclosed amount in Series A round from South Korean VC firm TheVentures.
As part of its strategic collaboration, JomParkir will capitalise on Korea’s advance technology to be a vehicle-to-anything (V2X) tech company in Southeast Asia.
“Our strategic partnership with TheVentures will enable us to enhance our systems and technology in our efforts to lead the digitalisation of the parking industry in Southeast Asia,” CEO Muhamad Nasir Habizar said.
“It would enable us to build the first vehicle data exchange in Southeast Asia, whilst spearheading the parking industry’s transition into adopting the smart city concept. This will bring greater value to all our stakeholders, in particular state and local councils as we advance into the digitalisation of processes and services,” he added.
Founded in 2017, JomParkir aims to provide a range of inter-related parking services. This includes:
- JomParking: a smart parking app that provides a hassle-free parking experience. The app provides cashless payment options and is available for both on-street and off-street parking.
- JomForce: a system that enables enforcers to validate parking transactions more efficiently via real-time reports.
- JomValet: a mobile app for valet operators to manage their parking services more competently.
- JomAgent: a digitalised portable e-ticketing system that provides an eco-friendly solution and allows local councils to reduce their CAPEX and OPEX by 20 per cent.
Habizar added that JomParkir wants to spearhead the parking industry’s transition and contribute towards making Malysia a smartcity.
To make this a reality, the company is also working with large agencies such as MARii, Cyberview, MDEC, MaGIC and Cradle.
Currently, JomParkir has over 400,000 registered users on its app. It has over 20 sites nationwide and two sites globally — in Saudi Arabia and Sri Lanka.
It also claims to have recorded a 200 per cent growth rate since 2018.
The onset of the pandemic has sparked the urgency for countries to adopt digitalisation to revive the economy. Many businesses which were offline until now are going online from hawker centres (small food stalls) to payments.
“The time is now to accelerate the adoption of technology in response to the COVID-19 pandemic as the shift towards digitalisation is at its peak,” said TheVentures CEO, Chanseong Ho.
TheVentures is an investor and incubator for early-stage startups focusing on technology, community and impact. It has investments in over 70 companies worldwide.
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Image Credit: JomParkir
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