Smart parking solution provider AIpark closes USD 42.4 million Series C round

Jun 29, 2020 1:07 pm

Beijing-based smart parking solution provider AIPark has raised RMB 300 million (USD 42.4 million) in its Series C round from investors led by Gaorong Capital, 36Kr reported on Monday.

The firm manages an app named AIPark (Aiboche in Chinese), which allows drivers to book parking lots and pay for the service directly via the app. To make this possible, AIPark upgrades traditional parking spaces into “smarter ones” for local governments or businesses by leveraging on its in-house visual recognition technologies.