Parquery, a provider of smart parking solutions and a Momenta Ventures portfolio company was acquired by Dutch construction conglomerate VolkerWessels.
With the acquisition, VolkerWessels adds a leading technology of computer-vision-based parking management to their portfolio.
Parquery’s solution is the most effective vision-based technology in the market with outstanding AI-driven analysis capabilities to manage large parking infrastructures. The hardware agnostic solution allows parking managers to make better decisions and improve asset utilization and revenues.
Efficient parking management technology fits well into the overall activities of VolkerWessels. Besides designing and constructing parking facilities, VolkerWessels owns PCH Parking and Facility Services B.V., a real estate services company that manages parking facilities and street parking spaces. UK Subsidiary VolkerSmart Technologies provides, installs and maintains smart city solutions including smart parking sensors, where the Parquery solution fits in perfectly. Geographically, Parquery’s solutions are already installed in locations across Europe and North America, two of the key markets of VolkerWessels, providing great synergies.
Parquery is another successful investment for Momenta. We supported the company in its early years as advisor and as investor as of their Seed Round. During this time, Parquery has grown to sell their smart parking solution to around 20 customers with 50 projects in 30 countries worldwide.
Momenta’s Ben Steven states: “This is a great addition to VolkerWessels’ activities and a great opportunity for the Parquery team to continue their successful path to bring their technology to market. We are proud that we had the opportunity to support Parquery since 2015 and up to this successful exit.”
About Parquery
Parquery is the leading technology provider for AI-driven Computer Vision parking solutions. The company has developed a leading platform that is uniquely able to work with off-the-shelf cameras to bring visibility and automation across several industries, including smart parking. For more information visit https://parquery.com/.
About Momenta Ventures
Momenta is the leading Digital Industry Venture Capital firm accelerating digital innovators across energy, manufacturing, smart spaces and supply chain. Since 2015, we’ve invested in over 40 growth-stage startups globally, with 6 exits including to SAP, Husqvarna and Ublox. Led by deep industry practitioners, our global presence and sector focus provides our portfolio with growth, insights and talent. For more information, please visit https://momenta.vc.
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Momenta Ventures doesn’t just finance companies; we help founders achieve lean, smart and sustained growth driving to an orchestrated and valuable exit. Schedule a short call to learn more about our Digital Industry Venture practice and our two funds.
