SurePark

The Future of Parking

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Problem

30% of all traffic in cities consists of people looking for parking. Motorists waste a great deal of time and fuel squatting or circling around parking facilities. Carpark operators can’t improve the situation as they usually lack real-time occupancy data and usage patterns of their parking lots.

Solution

SurePark has developed an end-to-end parking analytics solution that uses a proprietary wireless sensor that can be deployed in virtually any parking lot – indoors or outdoors. Occupancy data is analysed in real-time and turned into actionable information for both carpark operators and motorists.

The SurePark smartphone app provides motorists with real-time lot availability information and can guide the driver to the nearest empty spot. An administrative dashboard gives car park operators detailed usage analytics, allowing them to optimise operational performance and maximise the revenue potential of their facilities.

Traction

SurePark developed their core sensor technology by deploying and testing their system in three carparks at the National University of Singapore campus. The company’s proof-of-concept demo has attracted the interest of several property developers and carpark operators in the region. SurePark has also secured two key projects which are part of the Singapore Smart Nation initiative.

The first of these is with a government-linked real estate development agency which will install the SurePark platform at multiple carparks in the forth quarter of 2016. This project will be supported through a substantial financial grant which will help SurePark further refine their solution. The second project is a pilot test designed to optimize the use of space and automate parking enforcement at a carpark operated by the Housing Development Board (HDB). A successful trial will lead to a larger deployment of the SurePark platform in a new HDB satellite town.

Roadmap

SurePark has identified Singapore’s 1.2-million parking spaces as its beachhead market. They will target commercial property developers of malls and office buildings as well as government agencies that maintain public carparks. The company is currently raising a seed funding round to help them expand their product development team and successfully complete the two active pilot projects.

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