Parquery announces first close of seed financing!

Patrik Zumstein, previously Head of Smart Mobility at Swisscom, and Dr. Satya-Lekh Proag, Urban Mobility Specialist, join Parquery to foster new market opportunities in smart mobility and parking.

Zürich, Switzerland – April 25th, 2017. Parquery, an ETH spinoff and Swiss startup today announced the first close of its seed financing round. The new shareholders are experienced industrial angel investors and a strategic investor.

Parquery is applying vision analytics for smart mobility and smart parking solutions. The company will use proceeds from this round to expand business development and sales activities, and has already deployed funds to secure two key hires.

Patrik Zumstein has joined Parquery as Head of Business Strategy and Development. Zumstein, who was previously Head of Smart Mobility at Swisscom, brings more than 20 years of industry experience, and will coordinate business development across Europe and expand adoption of Parquery's solutions to other verticals in response to increased customer demand.

Parquery has also hired Dr. Satya-Lekh Proag to identify and develop new use cases for Smart Mobility and Smart City applications. As an engineer and economist specialized in mobility, Satya’s experience in urban planning and decision-making in Paris will provide Parquery with valuable insights on customers’ needs, markets and niches in Europe and abroad. Expanding Parquery’s unique technology across smart mobility, traffic, crowd and also freight management will help Parquery in becoming the leader in data provision to mobility operators and local authorities via computer vision.

Andrea Fossati, CEO of Parquery stated, "We are delighted to have Patrik and Satya join Parquery to help us capture the market opportunity and drive new business."

Alongside its partners SPIE and the City of Vevey, Parquery will be at Smart Suisse 2017 in Basel on April 27th. To schedule a meeting, please contact info@parquery.com. For more information on Parquery’s technology and solutions, please visit www.parquery.com

About Parquery: Parquery is a technology spin-off from the Computer Vision Laboratory of ETH Zurich. Their Smart City solution harnesses their expertise in computer vision and machine learning. They have successfully deployed several smart parking projects, including the largest camera-based project worldwide in Locarno, Switzerland in 2015.