The Berlin based start-up ParkTAG (predict.io), which develops a crowd-based parking app, receives EUR 1.4 Mio. co-funding from the European Commissions´ research & development program Horizon2020.
The Berlin start-up utilizes smartphone sensors to detect the location of vacant, on-street parking spaces and even where parking spaces will be available up to 10 minutes in advance. In particular in big cities on-street parking spaces are extremely scarce. The free, crowd-based ParkTAG app with its patent pending technology aims to help iPhone and Android users to find curb-side parking spaces. This helps to significantly reduce parking search traffic which represents 30% of all urban traffic.
The EU funding of the Horizon 2020 project for small and medium enterprises (SME-Instrument) will be primarily used for improving the technology and piloting the service in three European cities. “We want to help drivers save 15 minutes of their life every day. The Horizon2020 program helps us to test our technology across more European cities.”, says CEO Silvan Rath of ParkTAG.
About ParkTAG Social Parking
ParkTAG is a free mobile Smartphone App for iPhone and Android. Within the community users can see free parking spaces of other users. Social parking is a crowdsourcing principle where users help each other. Using cutting edge predictive analytics algorithms, ParkTAG detects - in real time - parking spots that are available or will become available in the near future, giving drivers a head start on finding a parking spot. This is the parking app/solution for the parking industry based on predict.io technology.