Soul Parking raises Series A extension to scale Indonesia parking, eye EVs
What's the deal? Soul ParkingDealroom has a profile for this one. Try Dealroom →, an Indonesia-based startup that provides tech-driven parking management solutions, has raised a Series A extension round co-led by AppWorksDealroom has a profile for this one. Try Dealroom → and AC VenturesDealroom has a profile for this one. Try Dealroom →. Taiwan MobileDealroom has a profile for this one. Try Dealroom →, USPACE, and Wavemaker Ventures also participated. The exact amount was not disclosed.
The funds will go towards hiring, product improvements, expansion into high-density locations, and marketing. Soul Parking also plans to enter new Indonesian cities and explore opportunities in the electric vehicle sector.
Founded in 2019 by Kenneth Darmansjah and Unggul Depirianto, the company has processed over 20 million transactions and partnered with more than 100 property owners.
Why now? Indonesia has 284 million people and over 137 million motorcycles on its roads. In dense cities, riders routinely struggle to find safe parking, fuelling widespread illegal parking and worsening congestion. Jakarta alone loses roughly $30M annually to parking-related economic costs.
Soul Parking quadrupled its locations in 2023 and now processes tens of millions of transactions per year. Its vertical motorcycle parking system uses real-time tracking to optimise land use — a pressing need as Indonesian cities grow denser.
What could go wrong? Parking management is a hyper-local business. Scaling across Indonesia's sprawling archipelago means navigating different municipal regulations, infrastructure gaps, and varied urban layouts. Competition from informal operators — deeply entrenched in many cities — could also slow expansion.
The company's move into electric vehicles, while forward-looking, adds complexity. EV adoption in Indonesia remains nascent, and building infrastructure for a market that doesn't yet exist at scale is a gamble.
The signal: Soul Parking's "breakout" growth stage, according to Dealroom, underscores how quickly infrastructure-layer startups can scale when they address a genuine, widespread pain point. The participation of corporate investors like Taiwan Mobile and USPACE — both with strategic interests in mobility and smart-city tech — suggests this round is as much about building cross-border partnerships as it is about capital, positioning Soul Parking to tap Taiwanese expertise as it eyes EV integration and expansion beyond Indonesia.
Read more: startuprise.org
