In 2020, the VolkerWessels group invested in a smart parking solutions company, Parquery, and expanded its interest in the world of AI and IoT platforms. Parquery has been collaborating successfully with Hyrde, an innovative IoT company and subsidiary of VolkerWessels, for the past three years. Hyrde has been using Parquery’s advanced computer vision technology, which has already been implemented in areas like smart airport security applications and smart city mobility projects
The investment will help Parquery on two fronts. Parquery will be able to implement revenue growth measures to increase its parking sales activities, whilst the funding will also help to expand its platform and offer a wider range of smart city solutions, based on artificial intelligence and computer vision, to complement the parking solution with:
Wido van de Mast, CEO of VolkerWessels Telecom, recently confirmed that he will join the board of Parquery:
As a digital infrastructure company, VolkerWessels Telecom is at the forefront of adopting new technologies and understands the importance of supporting innovative and unique companies like Parquery. Our current and future ambitions include looking beyond our current capabilities and include technology that puts us ahead of the rest.
We are extremely glad to have raised the interest of a solid and reputable group such as VolkerWessels. Their support both on the commercial and financial hand will certainly broaden our operational scope. We plan to add a few vertical solutions on top of our flagship smart parking software to leverage our expertise in deep learning and computer vision and our experience in the smart city domain.
says Dr. Andrea Fossati, CEO of Parquery
Founded in 2014 as an official spin-off from ETH Zurich, Parquery successfully rolled out more than 80 projects in +30 countries over the last few years. Parquery’s technology can be integrated into any smart city platform to detect traffic flows or assets. It can be used to display in real-time if parking spots are available, if people are complying with social distancing rules, if suspicious objects are detected in airports, or if goods are missing on shelves in warehouses.
VolkerWessels is a leading integrated and diversified construction group with a “think global, act local” mind-set. VolkerWessels’ operating model combines a local sales and client focus with a control and support structure at divisional level, that optimises scale and expertise across its operating companies.
VolkerWessels operates in the Netherlands, the United Kingdom, North America and Germany. Operationally, its business is organised in six segments. In the countries in which VolkerWessels operates it has over 120 local operating companies, including VolkerWessels Telecom and Hyrde. VolkerWessels Telecom facilitates the entire process of building a high-quality digital infrastructure, while Hyrde provides tailor-made IoT solutions.