Anyone who has ever circled a block indefinitely looking for a parking spot can attest to the fact that when one is running late, there is almost no price too great to be able to leave one’s car safely and legally parked.
Berlin-based ParkTAG thinks it can bring order to the chaos that is urban parking. Through its app, users can post when they are soon to vacate an on-street parking spot to other users of the app. That feature can either be used selectively to give access to a chosen few, or it can be offered up for the public good in return for in-app credit that will make a free parking space easier to get on the app later, reports TechCrunch.
The app does not share user data past the information that a parking space has been vacated.
The startup has taken in $650K in seed funding from German’s High-Tech Gründerfonds (HTG), a semi-governmental VC fund whose investors include the Federal Ministry for Economics and Technology among others.
The company plans to use the infusion of money to expand.
"We have plans for innovative Smart City deployments aiding the work of traffic managers and city planners,” CEO Silvan Rath told TechCrunch. “ParkTAG is not just any parking app. We think of ourselves as technology specialists. Municipalities, mobility services and app publishers can use our technology to detect free parking spots."