Soul Parking helps property owners optimize facility management and dramatically increase revenue, while offering a seamless digital solution for drivers that streamlines the urban parking experience
JAKARTA, INDONESIA, January 06, 2025—Soul Parking, a leading parking management service provider transforming urban parking infrastructure through technology in Indonesia, today announced the completion of a Series A Extension round of financing co-led by AppWorks and AC Ventures, followed by Taiwan Mobile, USPACE and Wavemaker Ventures, the early-stage fund of Wavemaker Partners.
Soul Parking is an innovative parking technology company dedicated to transforming traditional parking systems across Indonesia, designed to complement traditional parking systems by enhancing parking operations through advanced technology. Soul Parking offers a digital, hassle-free parking experience for both property owners and parking users, creating efficient and seamless solutions through the company’s asset-light model, including real-time data analytics, and cashless payment options. By integrating this data-driven approach, Soul Parking enables better parking space utilization and helps increase overall income for parking operators.
For property owners, Soul Parking offers a suite of innovative parking solutions that optimize urban parking infrastructure, create new sources of revenue, while also creating additional parking capacity in dense areas by up to eight times of conventional parking solutions. For drivers, Soul Parking offers a seamless, cashless, and convenient parking experience eliminating the hassle associated with traditional parking experiences.
Soul Parking’s innovative products and services include: Compact Motorcycle Storage (CMS) portable multi-level parking solutions for two-wheeled vehicles; and Soul Parking’s Operating System (OS) cloud-based software that digitizes existing parking structures by providing transparent data sharing for both two- and four-wheeled vehicles, giving clients real-time data analytics and insights. Soul Parking is able to convert a 60m2 area into multi-level parking, transforming areas to reduce congestion and increasing capacity to efficiently accommodate vehicles. Soul Parking’s elevated parking system ensures that every parked vehicle is covered by insurance and each parking area is monitored by CCTV.
Since inception, Soul Parking has successfully onboarded more than 100+ partners ranging from property owners, property management companies, and supporting businesses in the ecosystem. With over 20 million parking transactions processed annually, Soul Parking has built a strong reputation for reliability and efficiency, with more than two million vehicles parking through Soul Parking since inception. The company’s solutions can be found in apartments, hospitals, commercial centers, recreational areas, and residential complexes.
“This fundraising round not only reflects the strength of our business fundamentals and the grit of our team, but also highlights the immense potential within the parking industry. We appreciate the trust and shared vision of our investors, whose backing enables us to fast-track innovation and drive impactful solutions, positioning us to redefine urban mobility for the future,” said Kenneth Darmansjah, Co-founder and CEO, Soul Parking.
With this round of financing, Soul Parking plans to invest in company growth, including expansion into new geographical areas and cities with high-density, recruiting new team members, enhancing product offerings, and investing in marketing efforts to increase brand visibility and user growth.
Soul Parking plans to deepen its coverage in existing markets and expand into new urban markets across Indonesia, while catering to a larger number of vehicle types and exploring new opportunities in the electric vehicle space. Ultimately, Soul Parking aspires to contribute to Indonesia’s sustainable urban development by reducing congestion, lowering emissions, enhancing accessibility, and improving the overall parking experience for drivers.
“Soul Parking is tackling a critical challenge in Indonesia’s urban landscape by creating efficient and sustainable parking solutions. Their tech-driven approach not only improves the parking experience for drivers but also helps optimize land use and reduce congestion in densely populated cities. We are particularly impressed by Kenneth’s commitment to using technology to address real-world problems. He and the Soul Parking team have demonstrated exceptional execution and a deep understanding of the mobility market. This, combined with their clear vision for the future of urban mobility, makes them an ideal partner for AppWorks. We are excited to support their journey as they continue to scale their impact and redefine urban mobility in Indonesia and beyond,” said Jamie Lin, Chairman & Partner, AppWorks.
“Parking management is a substantial sector in Indonesia. Through its innovative solutions, Soul Parking offers cost-efficient and accountable solutions to property owners, while providing a seamless experience to parking customers. With over 20 million transactions processed and partnerships with more than 100 property owners, Soul Parking operates at scale and is well-positioned to compete effectively in this growing market,” said Michael Soerijadji, Founder and Managing Partner, AC Ventures.
“With 137 million motorcycles across Indonesia and a massive shortage of parking spaces, illegal parking has become widespread, worsening traffic congestion and economic losses—Jakarta alone loses approximately Rp460 billion each year. Soul Parking’s vertical motorcycle parking system, equipped with real-time tracking, optimizes land use and enhances efficiency and transparency in parking management across Indonesia. We’re proud to continue our support for the company as they tackle this critical problem and expand their services in the country,” said Paul Santos, Cofounder and Managing Partner, Wavemaker Partners.
About Soul Parking
Soul Parking is an innovative parking technology company dedicated to transforming the parking industry across Indonesia. Through cutting-edge digital solutions, the company provides seamless, cashless, and hassle-free parking experiences for both property owners and drivers. This enables businesses to optimize parking operations and maximize revenue by leveraging real-time data analytics and efficient parking solutions like Operating System (OS) and also, Compact Motorcycle Storage (CMS); by increasing parking capacity and enhancing convenience. Committed to sustainable urban development, Soul Parking strives to reduce congestion, lower emissions, and support the growing demand for electric vehicle infrastructure. For more information, please visit https://soulparking.co.id/ or check us out on LinkedIn.
In the picture, Soul Parking co-founders: Kenneth Darmansjah and Unggul Depirianto
