Winner of the METRIC Venture Award: The Berlin-based start-up ParkTAG
Berlin / Hanover / Dusseldorf, December 10, 2015 –METRIC and DROEGE VENTURES awarded the Berlin-based start-up ParkTAG. The new Venture Award recognizes innovative business models in the Mobility field. Among many candidates ParkTAG convinced the jury the most. The ParkTAG sensor fusion technology shows drivers in advance when and where a curbside parking space will be free.
The parking detection is based on a patent pending algorithm. Accurate predictions are generated through various sensors embedded in any modern smartphone. ParkTAG automatically detects when drivers are vacating their parking spot so other drivers can be routed accordingly. The ParkTAG community is already active in many European cities. For example in Berlin users can benefit from around 30,000 daily parking predictions.
This year's prizewinner was chosen as part of the executive meeting of METRIC on Tuesday 8 December in Hannover. Here the winning team presented it solution to the Executive board of METRIC Mobility Solutions AG. "We were thrilled with the algorithm developed by ParkTAG. This real time prediction based on complex analysis of diverse sensor data has great future potential, "says Thomas Dibbern, CEO of METRIC.
The Venture Award METRIC promotes digitization and is committed to emerging growth companies, to help shape their concepts of tomorrow's mobility. "The aim is to offer future-oriented business models an access to our network and resources," said Thomas Dibbern. "The Venture Award METRIC awards our groundbreaking technology. We are very pleased to have convinced the jury "says Silvan Rath, CEO and founder of ParkTAG.
METRIC and ParkTAG have considered not only approaches for future cooperation in the parking area like the management of public parking. Both companies have also recognized great potential to use ParkTAG’s technology in other sectors like public transportation.