(L-R) Soul Parking co-founders Kenneth Darmansjah (CEO) and Unggul Depirianto (CTO)
Soul Parking, an Indonesian parking technology company, has secured an undisclosed amount in a Series A extension round co-led by AC Ventures and AppWorks.
The round also saw participation from Taiwan Mobile, USPACE, and Wavemaker Ventures.
With the newly acquired funds, the startup plans to expand into new geographical areas and cities with high population densities, recruit new talent, enhance its product offerings, and invest in marketing to boost brand visibility and attract more users.
Also Read: For Soul Parking, fixing Indonesia’s two-wheeler parking issue is a walk in the park
The company intends to deepen its market coverage in existing areas and explore opportunities in the electric vehicle (EV) space.
“Soul Parking is actively collaborating with players in the EV industry to establish partnerships. The aim is to transform our parking locations into key infrastructure hubs for EVs, such as charging stations or battery swap facilities. This initiative aligns with the growing adoption of EVs in Indonesia and seeks to provide value-added services at our sites, ensuring convenience for EV users while supporting the country’s transition to sustainable mobility solutions,” co-founder Kenneth Darmansjah told e27.
Soul Parking aims to revolutionise traditional parking systems with its technology and provide a digital experience to property owners and drivers.
The startup offers various solutions, including Compact Motorcycle Storage (CMS), which provides portable, multi-level parking for two-wheeled vehicles, and the Soul Parking Operating System (OS), a cloud-based software that digitises existing parking structures. This OS provides real-time data analytics for both two- and four-wheeled vehicles.
The firm claims its technology can significantly increase parking capacity—by up to eight times—in dense areas, addressing a critical challenge in Indonesia’s urban centres.
In addition to optimising space, Soul Parking’s solutions also generate new revenue streams for property owners while ensuring that every parked vehicle is covered by insurance and each parking area is monitored by CCTV. Cashless payment options are available.
Ultimately, Soul Parking aims to contribute to the archipelago’s sustainable urban development by reducing congestion, lowering emissions, and enhancing the overall parking experience for drivers. It is also working towards addressing the widespread issue of illegal parking due to the shortage of spaces, which causes traffic congestion and economic losses.
The company says its vertical parking system, along with real-time tracking, optimises land use and enhances parking efficiency across Indonesia.
According to a press release, the company has already made significant inroads, with over 100 partners including property owners and management companies. It claims to process over 20 million parking transactions annually, and over two million vehicles have used Soul Parking’s systems since its inception.
The solutions are currently being used in diverse locations such as apartments, hospitals, commercial centres, recreational areas, and residential complexes.
Michael Soerijadji, founder and Managing Partner at AC Ventures, noted: “Through its innovative solutions, Soul Parking offers cost-efficient and accountable solutions to property owners, while providing a seamless experience to parking customers… Soul Parking operates at scale and is well-positioned to compete effectively in this growing market.”
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