Today they’re announcing a seed investment of €500,000 ($680,000) from German’s High-Tech Gründerfonds (HTG), a semi governmental VC fund whose investors include the Federal Ministry for Economics and Technology, the KfW Bank group, and six industrial groups: BASF, Deutsche Telekom, Siemens, Robert Bosch, Daimler and Carl Zeiss.
In addition to the €500,000 seed, HTG’s investment also includes €1.2 million reserved for a follow on Series A round, which is the fund’s typical investment structure.
The ParkTag iOS and Android apps lets users report when they are about to vacate an on-street parking spot to other users of the app who can then swoop in and bag the space. It lets users either do a specific handover of a parking spot to someone else, such as a colleague, friend or neighbour who they might actively want to help out. But the…
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