AIpark Bags Strategic Investment From Xiaomi

Chinese parking service company AIpark announced that it has obtained strategic investment from Xiaomi, with Lighthouse Capital acting as the exclusive financial adviser. The deal will help promote business collaboration between the two firms.

Corporate search engine Tianyancha shows that AIpark is a leading group with “AI smart parking a big data operation platform” at its core. The firm was established on June 8, 2015 with registered capital of 213,053,437 yuan ($32.827 million) and Yan Jun as its legal representative.

The company has constructed a smart parking technology and operation system, developed over 100 core technologies, secured patents covering Internet big data and intelligent hardware with intellectual property rights, and launched serial products including the Alpark City smart parking management system, Alpark One intelligent parking lot management system, Alpark sky eye, Alpark-R, Alpark-A and an Alpark app, according to the firm’s LinkedIn page.

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At present, Alpark City has officially been put into commercial use in cities including Beijing, Shanghai and Guangzhou.

Jiang Wen, managing director of Xiaomi‘s strategic investment department, said: “Smart transportation and smart cities have always been the investment fields that Xiaomi pays close attention to. We look forward to more synergy between the smart parking business of AIpark and Xiaomi‘s intelligent multi-scenario business.”

In 2020, AIpark completed four rounds of financing, while its past investors include Gaorong Capital, Asia Green Fund and NIO Capital.