PARKING CLOUD (“iParking”) has Received 25 Billion Won (US$22.2 Million) Investment

NHN Entertainment Founder Lee, Joon-ho leads the investment of 25 billion won following an initial investment in 2017. His latest investment demonstrates his ongoing trust in Parkingcloud’s products and opportunities.

In 2015, First in the Industry, Commercialized AI-Based Unmanned Smart Parking System and stands out as a market leader. The daily iParking System user count is approx. 1 million. While accumulated user count is approx. 650 million since the first parking lot opened.

The latest round of capital will be channeled towards AI technological enhancement as well as strengthening and expanding the mega-project portfolio.

The new investment pushes PARKINGCLOUD’s total funding to 113.5 billion won (US$ 100.6 million) since its last investment from SK NETWORS 3 years ago, back in 2018.

NHN Entertainment Founder Lee, Joon-ho had invested 12 billion won (US$ 10.6 million) together with Korea Investment & Securities and IBK Capital in 2017. The latest investment demonstrates investor’s confidence in steady growth opportunities within the iParking business model.

About PARKING CLOUD

PARKING CLOUD creates new values in Mobility Ecosystem. PARKING CLOUD designs and develops complete Parking Management Systems and Solutions which enables offering seamless user experience to both Drivers and Parking Facility Operators with Innovative AI Technology. A wide range of H/W and S/W would increase the operational efficiency of parking lots. Also, solutions based on Big Data and Mobile App Service (Called “iParking”) would enable the increase of the sales channel.