French startup Cocoparks, founded by former Centralien and UC Berkeley graduate Raphaël Jatteau, has just closed a €600,000 round of financing to transform parking and curb management in the city.
A solution to reduce urban pollution by 10%, improve well-being in the city and boost trade
In 2021, the average motorist still spends more than 72 hours a year “driving in circles” to park. As well as wasting a considerable amount of time, this makes parking one of the main causes of pollution and stress for city dwellers. In addition, the difficulties of parking and access to the city center are diminishing the dynamism of downtown retailers.
The aim of Cocoparks is to help cities solve this problem by bringing parking and curb management into the real-time era. The turnkey solution is aimed at local authorities, and is based on a deeptech sensor based on embedded artificial intelligence (“Cocospot”), a SaaS platform for cities (“Cocopilot”), and a consumer application (“Cocoparks”).
Proprietary technology “made in France” 10 to 15 times more efficient than traditional smart parking sensors
Thanks to AI, the technology developed by Cocoparks is 10 to 15 times more efficient than conventional smart parking detection technologies. Installation takes just 10 minutes on all types of street furniture, including lampposts. These sensors have already been installed in several French cities, and are currently being deployed in communities ranging from 15,000 to 400,000 inhabitants.
“At Cocoparks, our mission is to make city centers more breathable, calmer and more accessible. The technology we have developed enables us to provide a service that is more qualitative, more precise and more efficient than other smart parking players. We’ve had excellent feedback from the first cities to install our solution. This round of financing will enable us to accelerate the deployment of our solution, in the service of cities and their citizens”, explains Raphaël Jatteau, founder of Cocoparks.