Soul Parking, a leading provider of smart parking management services in Indonesia, has successfully closed its Series A extension funding round. The investment was co-led by AC Ventures and AppWorks, with participation from Taiwan Mobile, USPACE, and Wavemaker Ventures.
The funding will support Soul Parking’s efforts to expand its reach, enhance its product offerings, and strengthen its presence in Indonesiaโs urban centres. The company aims to revolutionise parking infrastructure through technology, offering efficient solutions for property owners and seamless experiences for drivers.
Transforming urban parking with technology-driven solutions
Soul Parking leverages advanced technology to improve traditional parking systems. Its asset-light model integrates digital tools, including real-time data analytics and cashless payment options, to streamline parking operations.
For property owners, Soul Parking provides solutions that optimise space, improve revenue generation, and boost parking capacity by up to eight times compared to conventional methods. For drivers, the platform ensures a smooth, cashless parking experience, eliminating common frustrations associated with traditional parking systems.
The company offers two key products:
- Compact Motorcycle Storage (CMS): A portable, multi-level parking system designed for two-wheeled vehicles.
- Soul Parking Operating System (OS): A cloud-based software solution for managing both two- and four-wheeled vehicles, offering transparent data sharing and real-time analytics.
Soul Parkingโs solutions maximise space efficiency, enabling a 60mยฒ area to be converted into multi-level parking facilities. Each site is equipped with CCTV monitoring, and parked vehicles are insured for added security.
Since its launch, Soul Parking has partnered with over 100 property owners, property management firms, and ecosystem businesses. The company processes more than 20 million parking transactions annually and has facilitated parking for over two million vehicles. Its services span a variety of locations, including apartments, hospitals, commercial hubs, recreational venues, and residential complexes.
Kenneth Darmansjah, Co-founder and CEO of Soul Parking, said, โThis fundraising round not only reflects the strength of our business fundamentals and the grit of our team, but also highlights the immense potential within the parking industry. We appreciate the trust and shared vision of our investors, whose backing enables us to fast-track innovation and drive impactful solutions, positioning us to redefine urban mobility for the future.โ
Strategic growth and sustainability goals
With the new funding, Soul Parking plans to focus on growth initiatives, including geographical expansion, team recruitment, product innovation, and marketing campaigns to boost brand visibility.
The company aims to strengthen its existing presence while expanding into new urban areas with high-density traffic. It also plans to accommodate a broader range of vehicle types and explore opportunities within the electric vehicle sector.
Soul Parkingโs long-term vision is to contribute to sustainable urban development in Indonesia by addressing congestion, reducing emissions, improving accessibility, and enhancing the overall parking experience for drivers.
Jamie Lin, Chairman & Partner at AppWorks, commented, โSoul Parking is tackling a critical challenge in Indonesia’s urban landscape by creating efficient and sustainable parking solutions. Their tech-driven approach not only improves the parking experience for drivers but also helps optimise land use and reduce congestion in densely populated cities. We are particularly impressed by Kenneth’s commitment to using technology to address real-world problems. He and the Soul Parking team have demonstrated exceptional execution and a deep understanding of the mobility market. This, combined with their clear vision for the future of urban mobility, makes them an ideal partner for AppWorks. We are excited to support their journey as they continue to scale their impact and redefine urban mobility in Indonesia and beyond.โ
Michael Soerijadji, Founder and Managing Partner at AC Ventures, added, โParking management is a substantial sector in Indonesia. Through its innovative solutions, Soul Parking offers cost-efficient and accountable solutions to property owners, while providing a seamless experience to parking customers. With over 20 million transactions processed and partnerships with more than 100 property owners, Soul Parking operates at scale and is well-positioned to compete effectively in this growing market.โ
Paul Santos, Co-founder and Managing Partner at Wavemaker Partners, noted, โWith 137 million motorcycles across Indonesia and a massive shortage of parking spaces, illegal parking has become widespread, worsening traffic congestion and economic lossesโJakarta alone loses approximately Rp460 billion each year. Soul Parkingโs vertical motorcycle parking system, equipped with real-time tracking, optimises land use and enhances efficiency and transparency in parking management across Indonesia. Weโre proud to continue our support for the company as they tackle this critical problem and expand their services in the country.โ
As Indonesia continues to urbanise rapidly, Soul Parkingโs tech-driven approach positions it as a key player in reshaping urban mobility and parking infrastructure.
