Parquery, a Swiss analytics startup and Momenta Partners portfolio company announced the closing of its seed round. In addition to Momenta Partners, participants include strategic investor Hectronic GmbH, investment firms such as Rancilio Cube, Strowlers Ventures as well as experienced angel investors. In particular, Hectronic’s extensive experience in the parking and refueling industries will efficiently support Parquery in getting access to markets worldwide.
Parquery is an ETH spin off applying vision analytics for smart mobility and smart parking solutions. The company will use proceeds from this round to expand business development, sales activities, and use case development. Funds from the round have already been deployed to secure two key hires.
Consistent with our operational investment approach, Momenta Partners helped Parquery to expand business development capabilities by hiring Patrick Zumstein as Head of Business Strategy and Development. Zumstein, who was previously Head of Smart Mobility at Swisscom, brings more than 20 years of industry experience, and will coordinate business development across Europe and expand adoption of Parquery's solutions to other verticals in response to increased customer demand.
Parquery also recently hired Satya-Lekh Proag to develop additional use cases for Parquery's unique technology across smart mobility, warehousing, traffic & crowd management and monitoring.
Parquery continues to gain momentum and was recently selected for the 2017 Kickstart Accelerator in the smart cities vertical among more than 1500 applications. They were also chosen by leading Finnish telecommunications, ICT and online service company Elisa to participate in the Elisa Innovation Challenge 2017 semi-final stage: a 16-week-long product development phase beginning on August 22nd.
Ken Forster, Managing Director of Momenta Partners stated: “Parquery’s technology provides unique differentiation in a range of smart mobility and parking use cases. We are delighted with the company’s increased sales footprint and look forward to their accelerated growth following this round.”
Andrea Fossati, CEO of Parquery added, “We are delighted to announce the close of our seed round and look forward to moving rapidly to capture the market opportunity and drive new business.”
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