Heaptalk, Jakarta — Parking solutions startup Soul Parking reportedly has performed remarkable hundredfold growth in its topline revenue over the past years. Following this incredible growth, the AC Ventures-backed startup plans to expand the business by providing infrastructure to promote EVs industry in Indonesia.
The CEO of Soul Parking, Kenneth Darmansjah, stated, “Our fantastic enhancement over the past three years is a manifestation of our relentless pursuit of innovation, customer satisfaction, and environmental stewardship. We have addressed today’s urban challenges and actively shaped an efficient future for urban mobility in Indonesia.”
Emerging since the pandemic, the startup leveraged upward mobility to gain significant advantages from the global urbanization and transportation enhancement trend. Besides its space-saving, mechanized, vertical storage for motorcycles, Soul Parking has integrated an asset-light solution with parking management software. This approach has reduced capital expenditure and led to a faster client payback period.
Further, the startup also has launched Soul Parking’s hardware-as-a-service (HaaS) model to provide accessible and cost-effective parking solutions. By offering the rental of its parking equipment and systems, the company has minimized upfront payment for landowners and created a more flexible and appealing option in the market.
In terms of strategic partnership and its target market, Soul Parking has catered to landowners and parking service providers across sectors, such as healthcare and hospitals, government entities, modern retail, and the property industry.
Meanwhile, the startup’s traction in the mobility market comes on the eve of an imminent electric vehicle (EV) revolution in Indonesia. Indonesia’s EV two-wheeler penetration currently occupies 0.2% of the market, with an opportunity to exceed 10% over the next five years, provided that public and private stakeholders work together to build a conducive local EV industry.
This parking management startup has transformed into a nationwide hub for EV charging, offering essential infrastructure, battery charging, and storage facilities for electric motorbikes to boost and catalyze mass-market EV adoption in the country. This initiative aligns with Indonesia’s government regulations and intention to transition traditional motorcycles into electric ones, addressing the environmental obstacles posed by today’s two-wheeler.
The company has also enhanced the parking process through mobile app integration, enabling seamless parking space booking, early check-out, digital payment, and on-location services such as EV charging.
“As our company continues its journey, the past three years’ achievement offers a glimpse of our potential and the transformative impact our technology can have on urban life in Indonesia and beyond,” Kenneth affirmed.
