Continental buys mobile parking app Parkpocket

Tuesday 12 September 2017 | 15:53 CET | News

The German start-up Parkpocket has been acquired by auto components group Continental AG. Started in 2013, Parkpocket offers an app to help locate available parking in the area and settle parking fees. The company benefited from initial funding from Telefonica's incubator Wayra. Already active in Germany, Austria and Switzerland, Parkpocket is expected to benefit from Continental's wider network and services development.

Telefonica Germany said this is Wayra's third start-up sale this year. Other companies which benefited from its support and found buyers include Neokami, which protects sensitive corporate data with the help of artificial intelligence, and mobile advertising company Matchinguu. In addition, in the past few months several Wayra-funded start-ups have secured further financing, including NF merchandise and e-bot7.

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