Soul Parking Books Initial Funding, Develops Technology-equipped Motorcycle Parking Infrastructure

Motorcycle parking structuring app developer startup Soul Parking announces initial funding led by AC Ventures and Agaeti Ventures. A number of angel investors was also involved, although the details were not stated, nor was it related to the amount received by the startup.

"We are very pleased to have partnered with AC Ventures, Agaeti Ventures and angel investors; and we have the same vision to revolutionize conventional motorcycle parking in Indonesia," said Soul Parking Founder & CEO Kemas Ilham Akbar.

Soul Parking was founded by five people co-founder, consisting of Ilham Akbar (CEO), Andru Wijaya (CPO), Riza Aulya (COO), Unggul Depririanto (CTO), and Kenneth Darmansjah (CFO). They have been developing solutions for parking lot management since 10 years ago.

Presented solution

Soul Parking developed a motorcycle solution called Compact Motorcycle Storage (CMS), a portable parking bag for bicycles. Designed to deal with the narrowness of land and the high demand for precise parking in strategic locations. The parking infrastructure developed is equipped with digital applications, which are able to facilitate the preparation, supervision, and payment of vehicle parking, as well as facilitate the reporting of parking transactions to land owners.

"By only using a land area of ​​about 60 square meters, one CMS module can serve up to 240 motorcycles, which means 1 CMS module can increase 8 times the capacity of conventional parking," said Co-Founder & CFO Kenneth Darmansjah.

There are two kinds of business models applied. First, they sell CMS packages to anyone in need. With this option, the parking lot owner will manage the system independently. In sales, Soul Parking also provides training on the use of the system. Second, they cooperate with land owners or parking areas in certain places. The management is carried out by the Soul Parking team with a profit-sharing system.

Next plan

Through capital funds obtained from investors, the company plans to build 10 new CMS this year, as well as develop user applications with features such as parking search, parking reservations, and payments. The initial version of the application will be launched at the end of June 2020.

"We hope this breakthrough can help revolutionize motorcycle parking in Indonesia. By increasing efficiency and maximizing land capacity, especially in congested cities, this will help reduce traffic congestion in highly congested areas," added Managing Partner of AC Ventures and Agaeti Ventures, Michael Soerijadji.

At the end of last February, Soul Parking established its first three CMS modules at Jl. Kebon Kacang Jakarta, across from Mall Plaza Indonesia, and Hotel Keraton. Every day, at this location there are thousands of motorbikes parked in public areas, causing tremendous traffic jams. The hope is that the solutions presented can minimize illegal parking and traffic jams in Indonesia.

With around 120 million motorcycles in Indonesia, founder believe this business has great potential. Of these, 15% of them are in Jakarta, making this area one of the cities with the most densely populated motorcycle population in the world. Based on the latest data from BPS, the growth of motorcycles in Indonesia is 7% per year while the growth of road surface is less than 0,1% per year.