Israeli Smart Parking Co Spaceek Raises $1.4M

The company’s system can be used to order a parking space in advance.

Israeli startup Spaceek, which is developing a platform designed to solve parking problems, has completed a $1.4 million financing round. The company has raised a total of $2 million, including the current round, since it was founded. $270,000 of this amount was raised through the exitvalley crowdfunding platform.

Clear Future, a private investment fund owned by angel investor Alon Arabov, led the round, with participation from the Central Park chain of parking lots, which operates dozens of parking lots in Israel, and Spaceek’s previous investors. Spaceek says that it has installed thousands of sensors in parking lots in Israel, the US, and Europe.

Founded two years ago, Spaceek currently has 12 employees in Petah Tikva. The company focuses on the development of parking systems for smart cities and private parking lots. The company’s product makes it possible to navigate to available parking places, and to reserve a parking space. In order to collect information about the state of parking, the company is installing various sensors, including cameras.

Spaceek cofounder and CEO Oren Elzam says, “The current financing round has added worldwide parking experts to the company’s team, who are adding critical know-how to the company that is putting us in the global parking technological forefront. The world is moving towards real-time monitoring and management parking systems in order to improve services and manage the private and municipal parking resource in a smart manner. Using sensors in every parking space makes it possible to order a parking space in advance, manage occupancy, adjust prices dynamically, direct drivers to available parking, streamline supervision, and facilitate controlled operation of other support systems for parking, such as lighting, ventilation and so forth.”

Published by Globes [online], Israel Business News – www.globes-online.com – on August 15, 2017

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