Heaptalk, Jakarta — Indonesia-based Soul Parking startup has completed a Series A Extension funding round. This round was co-led by AC Ventures and AppWorks, with additional participation from Taiwan Mobile, USPACE, and Wavemaker Ventures.
The funds raised will be strategically deployed to accelerate Soul Parking’s expansion into new high-density urban areas across Indonesia. The company plans to recruit additional team members, enhance its innovative product offerings, and bolster marketing initiatives to increase brand visibility and user adoption. Additionally, Soul Parking intends to deepen its market penetration in current locations and explore opportunities in the electric vehicle space, contributing to the country’s future of urban mobility.
“We are thankful for the trust and shared vision of our investors, which will enable us to fast-track innovation and offer impactful solutions that redefine urban mobility for the future.” Kenneth Darmansjah, Co-founder and CEO of Soul Parking, conveyed.
Innovative offerings to fix parking service
Soul Parking offers a range of cutting-edge products and services designed to modernize traditional parking systems and optimize space utilization in urban areas. Soul Parking’s innovative products and services include:
- Compact Motorcycle Storage (CMS), a portable multi-level parking solution for two-wheeled vehicles, significantly increases parking capacity in small areas.
- Soul Parking Operating System (OS), a cloud-based software platform, digitizes existing parking infrastructures by providing real-time data analytics, transparent data sharing, and cashless payment options for two- and four-wheeled vehicles.
These innovations enable property owners to maximize revenue and improve operational efficiency while providing drivers with a seamless and convenient parking experience. Each parking area managed by Soul Parking is monitored with CCTV and comes with insurance coverage for parked vehicles, ensuring security and reliability for users.
“Their technology-driven approach enhances the parking experience for drivers while optimizing land use and reducing congestion in crowded cities. We are excited to support Kenneth and his team, who have demonstrated exceptional execution and a profound understanding of the mobility market.” Chairman & Partner at AppWorks, Jamie Lin, said.
Business Growth and Future Focus
Since its inception, Soul Parking has partnered with over 100 property owners and processed more than 20 million parking transactions annually. The company has established itself as a reliable and efficient solution for urban parking, with its services available in apartments, hospitals, commercial centers, recreational areas, and residential complexes.
The company’s innovative solutions, like the Compact Motorcycle Storage (CMS) and cloud-based Soul Parking Operating System (OS), enhance parking capacity and streamline operations through real-time data analytics and cashless payments. Soul Parking remains committed to contributing to Indonesia’s sustainable urban development by reducing congestion, lowering emissions, and improving accessibility for all vehicle types.
“Through its innovative solutions, Soul Parking offers cost-efficient and accountable services to property owners while delivering a seamless experience to parking customers. With over 20 million transactions processed and over 100 partnerships, Soul Parking operates at scale and is well-positioned to compete effectively in this burgeoning market.” Founder and Managing Partner of AC Ventures, Michael Soerijadji, explained.
