Nio-backed smart parking platform Alpark announced on Monday that it has received a strategic investment from Xiaomi, with Lighthouse Capital as its financial advisor.
The company said the investment will help advance its business synergies with Xiaomi’s smart ecosystem and multiple scenarios. The amount of the investment was not disclosed.
Alpark was founded in 2015 and closed a hundreds-of-millions-of-RMB Series B round of funding led by Nio Capital, Nio‘s venture capital arm, in 2018.
Last year, the company received four rounds of financing within six months, including from its old shareholder Gaorong Capital.
Earlier this year, Alpark signed a listing counseling agreement with CSC Financial to list on the Shanghai Stock Exchange STAR Market.
Alpark’s core product, Aipark City, has been commercially available in nearly 30 cities over a five-year period, including Beijing, Guangzhou, Zhengzhou, Shanghai, Chengdu, and Shenzhen.
The company says it has achieved 100 percent unmanned parking management operations and monitoring with its Aipark City Business commercial parking system and AOM operation and maintenance monitoring system.
With the company’s parking service, car owners can check and reserve parking slots through an app.
Xiaomi announced its entry into the smart electric vehicle market on March 30 and has since invested in several related companies.
A Xiaomi-backed industry fund invested in Great Wall Motor’s power battery maker Svolt Energy last week.
In early July, Xiaomi acquired Chinese self-driving technology company DeepMotion, which could be valued at the RMB 1 billion level, with up to a 20-strong team joining Xiaomi.
