Malaysia-based smart parking solutions provider, JomParkir has secured an undisclosed amount of funding in a Series A round, held in September 2020 from South Korean VC firm TheVentures.
Following the collaboration between JomParkir and TheVentures, the startup will make the most of Korea’s evolved technology to establish itself as a vehicle-to-anything (V2X) tech company in Southeast Asia.
Muhamad Nasir Habizar and Rozaida Ali founded JomParkir in 2017. The startup offers multiple inter-linked parking services such as:
1. JomParking: A smart parking app that provides an annoyance-free parking experience to its users. The app provides cashless payment choices and is available for both on-street and off-street parking. Besides providing convenient parking payment service to all users, JomParking also has a marketplace in its app that sells car batteries and bus tickets. It has become very popular since the onset of the current Covid-19 pandemic as it helps users to pay for parking from a safe social distance.
2. JomForce: A mobile app that empowers enforcers to validate parking transactions more efficiently through real-time reports. Enforcers are able to recognize and monitor the parking session of the users’ license plate number and remove the use of stickers, labels, receipts on windshields of cars or parking tags. Its online reporting feature helps them manage and plan their operations more viably.
3. JomValet: A mobile app for valet parking operators that helps them manage their parking services more proficiently. It is easy to use, affordable for users, has a cloud-driven application, every parking transaction is saved online so that one doesn’t have to worry about losing parking tickets, integrated with e-wallets and JomParking as well.
4. JomAgent: A digitized portable e-ticketing system that provides an eco-friendly solution and allows local boards to reduce their CAPEX (Capital expenditures (CAPEX) are funds utilized by a company to buy, upgrade, and maintain physical assets such as property, plants, buildings, technology, or equipment) and OPEX (Operational Expenditure (OPEX) is the money a company spends on an ongoing, regular basis in order to run a business) by 20 %.
JomParkir is on a mission to revolutionize the parking industry and contribute towards making Malaysia a smart cities country. “This will bring greater value to all our investors, in a particular state and local councils as we advance into the digitization of processes and services”, as quoted by CEO Habizar.To achieve this, the startup is also working with large organizations such as MARii, Cyberview, MDEC, MaGIC and Cradle.
Presently, JomParkir has almost 400K registered users on its app. It has over 20 sites in Malaysia and two sites in Saudi Arabia and Sri Lanka. JomParkir also claims to have gained a 200 % growth rate since 2018.
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