Chinese parking assistant startup U-Parking announced today that it raised RMB 12 million (around US$ 1.74 million ) Series A led by Gobi Ventures.

U-Parking (有车位), founded in Beijing in 2014, provides distributed parking space supplies in big cities in China and secures decent parking experience for both individual users and car-sharing businesses. U-Parking has implemented a parking spot booking and automated allocation system, using car license plate numbers for identification, to maximize the parking space utilization across the city, and at the same time to cut down marginal costs encountered in parking management.

“U-Parking’s services are perfectly matched to the existing car-sharing services, because they give their business partners more choices of parking spaces at a low cost, and these parking lots are even monitored,” said Michael Zhu, Managing Partner at Gobi Ventures.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.