Patrizia & Mitsui Invest $250M in ‘Green’ Parking Lot Startup
Inquirer.net | 21st February 2025
Local startup Parkwise Inc. received a capital infusion of $250 million from the joint venture of investors Patrizia and Mitsui & Co. Ltd. to build parking facilities equipped with electric vehicle (EV) charging stations.
The mobility solutions company, which manages over 80 parking facilities now, builds car parks at hospitals, universities and airports.
Parkwise establishes parking facilities—integrated with rooftop solar—amid the growing demand for parking as more Filipinos buy personal vehicles.
The startup has observed that inadequate parking supply, especially in Metro Manila, has made the roads congested. Its solution aims to scale up off-street parking in strategic locations where demand for parking is high.
Parkwise director Alf Wilson said they wanted to “create a network of high-quality parking facilities that not only meet current demands but also anticipate future needs.”
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