UPDATE: A PREVIOUS VERSION OF THE POST REPORTED THAT THE COMPANY RAISED THE ROUND. APPYWAY HAS JUST LAUNCHED THE ROUND.
AppyWay, a London, UK-based kerbside management and smart parking technology company, has launched a £20m in Series B funding.
The company intends to use the funds for organic growth of the platform, strategic acquisitions, further technological investment and international scalability.
Founded by Dan Hubert in 2013, AppyWay offers an advanced platform of accurate, standardised data, APIs and tools for smart kerbside management in the world. It does this through effectively digitizing the kerb, utilizing IoT sensors to establish kerbside demand data, further enriching this via a wide range of sources such as payment operators, navigation and traffic solutions, mobility and last mile operators, mobile as a service (MaaS) apps, electric vehicle and infrastructure apps, plus a variety of other tools.
Councils like Milton Keynes, Cambridgeshire, Portsmouth, Harrogate, Coventry, Southwark, Cornwall, Dorset and more, ordinary drivers, fleets and logistics firms also using AppyWay’s platform.
The new funding will build on the £10.8m raised to date, including a £7.6m Series A round from Sumitomo Corporation, Hyundai Motor Company and Aviva Ventures, West Hill Capital and Breed Reply. These funds were used to grow AppyWay’s mobility team, expand its Sales and Marketing functions, and accelerate new product and IP development.