Parknav uses machine learning and predictive analytics to know where there is open on-street parking in real-time.
ESTABLISHED IN :  2014
PEOPLE : 11
LOCATION : 1871 TECH HUB, CHICAGO, IL (USA)
TECH & PARADIGM : AI, ML
INVESTMENT STATUS - SEED

Parknav is an app that helps people to find parking in the streets (both free and metered). It uses the color to see chances of finding street parking (green: high chance; orange: fair chance; red: low chance).

porter-value-chain-parknav

USE CASE 1

 

Standalone app: use the app to see your chances of finding street parking.

USE CASE 2

 

Automotive industry & Car sharing: integrate on-street parking predictions right into the on-board navigation system of the car (white label solution).

USE CASE 3

 

Real estate: “parking score” for estates and venues.

USE CASE 4

 

Smart cities: receive a customized dashboard to understand how residents and visitors park in your city.

UPDATES

April 2019

Standing.

Startup is active since 2014 and has raised $792K through funding round (including Microsoft Ventures) and angels.

Key Factors.

There are few competitors. Team has extensive experience in technology and big-data. PoC and beta app are working with an accuracy of 70-90% depending on the granularity of data. They provide APIs fo further implementation in third party systems.

Customer Value Proposition.

The strength are real time data of parking spot. Data can be targeted into their own app or sold to third parties such as automotive company. Data are provided through crowdsourcing and elaborated by ML. Data can also be used as ancillary service in case of social events, or integrated in maps.

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