Parquery announces final closing of its seed round

As a follow-up to the press release published earlier this year, Parquery is proud to name key investors and announce the final closing of its seed round. Participants include strategic investor Hectronic GmbH, investment firms such as Momenta Partners, Rancilio Cube, Strowlers Ventures and other experienced industrial and angel investors. In particular, Hectronic’s extensive experience in the parking and refueling industries will efficiently support Parquery in getting access to markets worldwide.

This investment will enable Parquery to expand business development opportunities, but also to increase Parquery’s portfolio of solutions. After hiring Patrick Zumstein and Dr. Satya-Lekh Proag earlier this year, Parquery is now looking to expand its engineering team with a Software Engineer and a DevOp Software Engineer.

The closure of the first seed round is another successful milestone reached by this ETH Zürich spin-off. The last three months have also seen Parquery selected in three different competitions which will help broaden its activities as well as its worldwide presence:

• Having won the PRIO JumpStart competition, Parquery will collaborate with the leading Portuguese gas energy provider PRIO Energias SA to build the gas station of the future, using cameras which are already installed on site.
• Parquery was selected in the 2017 batch of the Kickstart Accelerator, which will launch on September 7th, and will increase Parquery’s business opportunities with leading Swiss companies and institutions.
• Parquery was selected as semi-finalist of the Elisa Innovation Challenge 2017, organized by the leading Finnish telecommunications, ICT and online service company Elisa, to provide a relevant platform to succeed in a 16-week-long product development phase.

As mentioned in a recent business study, the number of cameras worldwide is exponentially growing, and expected to reach more than 45 billion worldwide in 2022. The trend points to an increasingly bright future for Parquery’s cloud-based software-as-a-service solutions for image analysis.

About Parquery: Parquery is a technology spin-off from the Computer Vision Laboratory of ETH Zurich. Their Smart City solution harnesses their expertise in computer vision and machine learning. Parquery has successfully deployed several smart parking projects, including the largest camera-based project worldwide in Locarno, Switzerland in 2015.

(Press release)