Revolutionizing Urban Parking: VIRA Ventures Invests in Repark
At VIRA Ventures, we are committed to identifying and supporting innovative startups that have the potential to make a real difference in the world. We are thrilled to announce our recent investment in Repark, a Vienna-based proptech startup that is on a mission to transform urban parking.
Solving the Urban Parking Challenge
Urban parking has long been a challenge that plagues city dwellers and commuters alike. The endless search for a parking spot not only wastes valuable time but also contributes significantly to carbon emissions. Repark has set out to change that. Their vision is simple yet powerful: to make every available parking space accessible, affordable, and flexible.
Innovative Access Solutions
Repark has developed a unique access module that can be installed on garage doors within hours, making them instantly operable via a mobile app. This means no more circling the block in search of a parking spot. With Repark, you can open your garage remotely with just a few taps on your smartphone.
Creating a International Network of Parking Spaces
Repark’s ambitions extend far beyond Vienna. They aspire to create the Airbnb for parking spaces, forging an international network of parking slots in the modern sharing economy. This platform will not only simplify the lives of drivers but also empower parking space owners to earn money from their unused slots. It’s a win-win scenario that fosters a sense of community while making urban parking more efficient.
A Growing Success Story
Repark’s journey has been nothing short of remarkable. They have successfully completed their alpha phase with a web app and entered the public beta phase on March 1, 2023. The response has been overwhelming, with one-third of users returning to use the service repeatedly. An impressive 94 percent of Repark’s existing customers plan to continue using the service.
Our Belief in Repark
We believe in Repark’s mission to simplify urban parking and reduce carbon emissions. Their innovative solution has the potential to transform the way we think about parking in cities. By making every parking space accessible and flexible, Repark is not only saving time for individuals but also contributing to a greener, more sustainable future.
Accelerating Growth
With VIRA Ventures’ support, Repark is poised for rapid growth. Their plans include expanding their number of locations by at least fivefold in the coming year. They have recently secured a contract for an additional 200 parking spaces and are in discussions for framework agreements with prominent real estate players in Vienna. The startup also aims to introduce hourly rentals and license plate recognition in the near future.
Joining Forces for a Better Future
We are excited about our investment in Repark and the potential it holds. Together, we believe we can create a future where finding a parking spot is no longer a hassle, and where urban parking contributes less to environmental pollution. Repark’s dedication to solving a real-world problem resonates with our values at VIRA Ventures, and we look forward to supporting their journey toward a more efficient and sustainable urban future.
About VIRA Ventures
VIRA Ventures is an investment firm dedicated to identifying and supporting innovative startups in the technology sector. Our mission is to nurture and empower ventures that have the potential to drive positive change in the world.
About Repark
Repark is a Vienna-based proptech startup founded in 2019 by Lukas Lauda. Their goal is to make every available parking space accessible, affordable, and flexible. With their innovative access solutions, they are simplifying urban parking and contributing to a greener, more sustainable future.