NIO Capital-backed AIPARK爱泊车 officially announced it has completed a series C funding round of CNY 300 million (USD 42 million).

Established in June 2015, AIPARK爱泊车 is a world-leading hi-tech company with "AI smart parking + big data operation platform" at its core. It is also the world's first hi-tech enterprise that applies the high level image recognition technology to the commercial use of city smart parking management, focusing on providing smart solutions for static traffic in Chinese cities.

Currently, AIPARK爱泊车 City has officially been put into commercial use in cities including Beijing, Guangzhou, Shijiazhuang, Handan and Zhangjiakou, effectively solving problems of "difficult and messy parking" in the city, and significantly increased the utilization rate of parking resources.