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Taiwan Mobile, AppWorks, and USPACE Invest in Soul Parking: Transforming Indonesia’s Urban Mobility and EV Ecosystem
Taiwan Mobile, together with strategic partners AppWorks and USPACE, announced an investment of over NT$100 million (approximately USD 3 million) in the A2 funding round of Indonesian smart parking tech startups, Soul Parking. This move marks Taiwan Mobile’s efforts to expand its presence in the Southeast Asian smart mobility market. The investment aims to support Soul Parking's growth while contributing to a sustainable urban mobility ecosystem.
Soul Parking, established in 2019, has already disrupted Indonesia’s parking ecosystem with groundbreaking technology. By combining advanced parking solutions with innovative EV infrastructure, the company has processed over 20 million parking transactions annually and dramatically increased parking space efficiency by 8 times, boosting its revenue 100-fold in just three years.
The Strategic Reason Behind Taiwan Mobile AppWorks and USPACE Backing Soul Parking
Why do Taiwan Mobile, AppWorks and USPACE invest in Soul Parking?
USPACE, a leading smart parking service provider, has made waves in the industry by acquiring Japan's top three shared parking brand "Nokisaki". It has aggressively expanded into Southeast Asian markets like Thailand, Vietnam, and Indonesia, leveraging its expertise to solve parking and traffic challenges. Its partnership with Soul Parking allows it to integrate advanced shared parking technology into Indonesia’s growing market.
Taiwan Mobile, a Taiwan telecom company, is heavily invested in building a smart mobility ecosystem. Having already invested in USPACE and WeMo (a Taiwanese EV scooter-sharing platform), Taiwan Mobile sees Soul Parking as a natural fit. This investment aligns with its vision of integrating smart parking, EV charging, and parking space sharing into one seamless platform across Southeast Asia.
AppWorks is one of the largest accelerators and venture capital firms in Asia, specializing in AI, blockchain, and Southeast Asian startups. By co-leading Soul Parking's A2 funding round, AppWorks highlights its commitment to supporting innovative solutions in high-growth markets like Indonesia.
What Makes Soul Parking a Game-Changer?
Indonesia presents a massive opportunity for smart mobility solutions due to its rapid urbanization and traffic challenges. The country’s population grows at 1.05% annually, but its road expansion rate is less than 1%, creating severe congestion in cities like Jakarta. Adding to the problem, motorcycles dominate Indonesia’s roads, with over 125 million in use, accounting for 85% of personal vehicles.
From an environmental standpoint, motorcycles are a major contributor to carbon emissions. To combat this, the Indonesian government aims to convert 150,000 motorcycles to electric models by 2024 and achieve 10% EV market penetration within five years. Soul Parking, with its EV charging and parking solutions, is perfectly positioned to help achieve these goals.
Soul Parking provides vertical motorcycle storage and real-time parking management software, enabling landowners to dramatically increase space efficiency. In densely populated areas, its technology has made it possible to park eight times more motorcycles than traditional solutions.
Through its Hardware-as-a-Service (HaaS) model, Soul Parking enables businesses to lease its advanced parking equipment rather than making costly purchases upfront. This innovative approach reduces initial expenses for landowners and accelerates their return on investment, making smart parking solutions accessible to more businesses.
Recognizing the increasing demand for electric vehicles, Soul Parking has expanded into EV infrastructure, providing charging stations and battery storage for electric motorcycles. This positions the company as a key player in Indonesia’s green mobility transition.
By processing over 20 million parking transactions annually and partnering with 100 organizations, Soul Parking is transforming parking management across hospitals, malls, residential complexes, and entertainment venues. Its mechanized vertical parking systems maximize space, reduce costs, and offer real-time parking data analysis, providing businesses with scalable solutions for high-density urban areas.
The investments from Taiwan Mobile, AppWorks, and USPACE, Soul Parking are addressing Indonesia’s urgent parking and EV infrastructure challenges while preparing for expansion across Southeast Asia. The company’s innovative solutions are reducing carbon emissions, easing congestion, and paving the way for smarter, cleaner transportation systems.
As Indonesia works toward its sustainability goals, Soul Parking is not just solving today’s problems but creating a future where urban mobility is efficient, accessible, and environmentally friendly.
References: Taiwan News, Inside, Soul Parking
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