Parko brings a crowd-sourcing solution (like Waze, for example) by connecting between people that are looking for a spot with people that are about to leave a spot. And the beautiful thing - Parko automatically identifies spots that are about to become available. The person who’s about to free up the spot doesn’t need to do anything except confirm what Parko already knows through its unique learning algorithms. Nobody likes looking for parking. Statistics show that the average driver in a big city like New York, Paris or Tel-Aviv will spend almost 1 year of their life searching for parking! For drivers it is a complete waste of time, money & energy, while the community is exposed to tons of unnecessary toxic emissions. Parko’s social parking platform brings a crowd-sourcing solution to the common pain that drivers in every big city go through when they circle the blocks looking for a parking spot.
Parko is the unique combination of a social community both actively and passively sharing information on their soon-to-be-free parking spots using cutting-edge technology. Parko’s proprietary algorithms make use of information from more than 9 sensors found in a typical smartphone today to accurately identify parking spots that are about to become available in a completely passive way, without the users even needing to take their phones out their pockets.
Each day millions & millions of cars enter the cities worldwide & need to make a plan for parking. In just a small city like Tel-Aviv, 500,000 cars come into the city each day, and this is in addition to the 200,000 residents with cars in the city. In New York there are 2.5 million cars & in Paris over 5 million cars that need to park each day. And the market is only growing.
Sector(s): Mobile Application Service
Geography: Tel Aviv, Israel
Other Investors: OurCrowd