The board of directors of EPTI AB (publ) ("EPTI" or the "Company") decided on 24 April 2023 to adopt a new strategic direction, which means that EPTI will become a pure investment company with a focus on artificial intelligence...
- Real time and street-specific free parking space predictions with the new Find & Park feature
- Parkamo app is an all around solution for frictionless parking
- Find & Park supports Parkamo’s vision of sustainability
Munich / Stockholm March 30, 2021 – In most countries drivers spend an enormous amount of time looking for a free parking space. In Germany, for example, this number amounts to 41 hours per year on average, reaching as high as three digit numbers depending on the city. This is not only a huge waste of time, and annoying to the drivers, it has also a significant impact on the environment through increased CO2 emissions, noise pollution and traffic jams. Studies show that up to 30% of traffic jams can be traced back to parking search traffic. Moreover, in 2015, the German Association of the Automotive Industry (VDA) showed that up to 0.5 million tons of annual CO2 emissions can be saved by introducing smart parking solutions.
To tackle that problem Munich based Parkamo has developed a new app feature: Find & Park. Find & Park enables Parkamo users to check in real time predictions of free parking space availability at their desired destination. When opening the Parkamo app the user will immediately see all streets in different colours following the traffic light system: green (high chances), yellow (medium chances) and red (low chances). This will help him to decide on where it’s best to start looking for a parking space. In addition, Parkamo’s price comparison function enables drivers to find the cheapest parking space and parking provider. This should not only reduce the time and stress of the driver, but also the parking search traffic and its associated CO2 emissions.
“Most drivers have experienced the stressful and time-consuming search for a free parking space in cities. With our new feature Find & Park we want to offer an even easier access to parking spaces to our customers and reduce the time needed to find a free parking space, ”says CEO Katharina Wagner. “Also for me personally it was important to launch Find & Park which supports our company purpose – to enable sustainable parking“. Sustainability is one of Parkamo’s core values. For example, the company donates an amount to climate-promoting projects for each parking process booked through the app. Furthermore, the team is striving to reduce parking search traffic by offering a variety of parking options on-street, off-street and in private parkings, thus making unused space accessible to its customers.
The parking space predictions in Find & Park are based on data sets supplied by a global provider of traffic data. No investment in infrastructure, such as sensors or cameras, is necessary for the cities in which Park & Find is available. The data is collected through the anonymous aggregation of static and dynamic sources. This includes fleet vehicles, cell phones, cameras, sensors and other data sources. Find & Park is currently available in Germany in Munich, Hamburg and Berlin, as well as in 33 cities in Sweden. Further locations in Germany are planned to be launched after an initial pilot phase.
Parkamo combines the inventory of both professional and private providers in one app and is like Booking.com for parking. Currently, Parkamo has already integrated eight parking apps, including Easypark, Parkster and ParkNow. It is already possible to park via Parkamo in 20 countries and about 4380 cities throughout Europe. Car park operators and their infrastructure providers are also among the partners. With every parking transaction Parkamo Green Parking donates a contribution to certified climate friendly projects and helps reduce CO2 emissions.
Parkamo was founded in 2019 by the Swedish company builder EPTI. CEO of Parkamo is Katharina Wagner. The head office is located in Munich.
Further information about Parkamo can be found at https://parkamo.com/
Contact for further information
Katharina Wagner / CEO Parkamo
+49 163 641 5953