LA-based City raises $41 million to update parking facilities
Metropolitan area is a brand-new Los Angeles-based start-up that’s looking to compete with BMW-owned ParkMobile for a piece of the automated parking lot management market. Updating parking with a computer system vision-based system that recognizes cars as they enter and leave garages has actually been Metropolis’ mission given that founder and chief executive Alex Israel first formed the business […] Israel, a serial business owner, has actually invested years believing about parking. In this, the company’s objectives aren’t different from the Florida-based startup, REEF, which has its own spin on what to do with the existing facilities and footprint created by city parking spaces. Unlike REEF, City will remain focused on mobility, according to Israel. While the computer vision and machine learning innovation will serve as the company’s beachhead into parking lots, services like cleansing, charging, storage and logistics might all be part and parcel of the Metropolis offering going forward, Israel said. …
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