AIpark, a Beijing, China-based startup company that utilizes fourth-generation parking technology to manage city-wide road-side and garage parking systems, completed an over RMB 100m Series A financing.
The round was led by U.S.-China Green Fund with participation from Banyan China Capital.
The company intends to use the funds to strengthen its research and development efforts to incorporate the latest AI technology to enhance the intelligence of existing products and systems.
Led by Chairman Mr. Jun Yan, AIpark has introduced “AIpark City” and “AIpark One” intelligent parking management systems to specifically address city public parking and commercial building parking problems. So far, AIpark City has already launched in Beijing, Shanghai, Tianjin, Shijiazhuang, Handan, Zhangjiakou, Xi’an, and Jinan with more than one thousand parking lots integrating “AIpark One” into their management systems.
The company is in the process of developing its “AII Blue Brain” or “Artificial Intelligence Identification Blue Brain,” which combines scenario intelligence, supercomputing, and scenario recognition technologies to achieve autonomous management and monitoring of parking facilities.