The Weekly Deal CW18/24 - CityZ
The Weekly Deal CW18/24 - CityZ
One startup, once a week. CityZ is an innovative Italian startup born with the mission to solve some of the problems that afflict major urban centers, including traffic, road safety and viability.
#mobility #smartcity #IoT
🥜 In a nutshell
Company: CityZ
Industry: Mobility, Smart City
Sub-Industry: IoT, Mobility as a Service
Year Founded: 2021
HQ: Caselle Torinese (TO), Italy
Stage: Pre-Seed
Founders: Andrea Buri, Fernando Falcone, Igor Milano, Federico Buratto, Donato Falcone, Alessandro Rivalta
Funding Amount: 575K
Main Investors: 40Jemz
In a sentence: Thanks to IoT and smart sensors CityZ will provide Smart Parking solutions for cities to make life easier for citizens.
🔭 The Context
Traffic congestion has reached critical levels in cities worldwide, presenting a significant hurdle to efficient urban mobility. While various factors contribute to this issue, parking inefficiencies stand out as a major culprit, leading to frustrating delays and increased emissions as drivers circle in search of elusive parking spots.
However, cities are beginning to reimagine the role of parking infrastructure in urban planning and design. From London to Paris, municipalities are embracing innovative strategies to repurpose parking spaces and reclaim land for community-oriented projects.
Yet, challenges persist as cities navigate the complexities of parking regulation and land-use planning. The ambiguity surrounding parking management blurs the lines between transportation and land-use policy, hindering efforts to address urban congestion and promote sustainable development.
As we confront the realities of 21st-century urbanization, rethinking the role of parking infrastructure and dynamics is essential to building resilient and inclusive cities.
CityZ Value Proposition
CityZ, a startup based in Piedmont, Italy, is at the forefront of addressing these pressing urban mobility challenges.
By harnessing the power of artificial intelligence and innovative smart sensors, CityZ offers a revolutionary Smart Parking solution. At the heart of their service lies an adhesive sensor that seamlessly detects parking occupancy in real-time. This sensor requires no costly infrastructure modifications and can be swiftly installed, enabling optimized parking space management. Moreover, CityZ provides an all-inclusive "parking as a service" package, encompassing hardware and software installation, as well as ongoing technical support. By integrating parking availability data into navigation apps and electric mobility services, CityZ simplifies the search for parking spots, streamlining urban mobility for residents and visitors alike.
CityZ Solution in Practice
CityZ's Smart Parking System is redefining urban mobility with a comprehensive suite of solutions tailored to modern city living:
Smart Parking Management System
Real-time sharing of parking availability.
Detailed insights into occupancy status and utilization patterns.
Customizable filtering options for refined searches.
Smart Parking & E-Mobility Integration
Monitoring of EV charging parking spaces.
Real-time alerts for unauthorized parking.
Smart Parking Data & Statistics Analysis
Tracking of occupancy, duration, and utilization patterns.
Optimization of management strategies.
Market analysis and trend forecasts.
App / Web App / Control Room Integration
Real-time visualization of parking availability.
Seamless reservation and payment systems.
Integration with MaaS systems for centralized data access.
CityZ's Smart Parking System offers cities a holistic approach to parking management, paving the way for a more sustainable and efficient urban future.
🔍 Some Info
📈 Market Size → $7B by 2027
The market size of smart parking is substantial and continuously growing due to increasing urbanization and the need for efficient parking solutions. Estimates suggest that the global smart parking market was valued at over $3 billion in 2020 and is projected to reach more than $7 billion by 2027, with a compound annual growth rate (CAGR) of around 12%. This growth is driven by factors such as the rising adoption of IoT and sensor technologies, the need for better traffic management, and the increasing demand for convenient parking solutions in urban areas. Additionally, initiatives by governments and local authorities to promote smart city development further contribute to the expansion of the smart parking market.
👨🏻🔬 Technology & IP → 1 patented technology
CityZ utilizes a proprietary technology that revolves around its Adhesive Smart Parking Sensors (ASPS) and integrated IoT communication platform. The ASPS are innovative sensors designed to be adhesive, enabling non-invasive installation on parking surfaces. These sensors detect parking occupancy and relay real-time data to the CityZ IoT platform, which integrates seamlessly with existing navigation apps and systems. This technology is protected by intellectual property rights, including patents and trademarks, ensuring CityZ's unique position in the market and safeguarding its innovative solutions from competition.
🛒 Business Model → Parking as a Service (PaaS)
CityZ operates on a Parking as a Service (PaaS) business model, offering a comprehensive solution for smart parking management. Instead of selling hardware, CityZ provides a complete service package, including the Adhesive Smart Parking Sensors (ASPS), installation, maintenance throughout the contract duration, and implementation of IoT communication infrastructure.
🤝 Team → 6 full-time
Andrea Buri (CEO), Fernando Falcone (CTO), Federico Buratto (IT Manager), Donato Falcone (CPO), Alessandro Rivalta (CMO), Igor Milano (Commercial Director)
💰 Financials → €200K estimated revenues in 2024
CityZ has secured a €575,000 funding round, and the estimated revenues for the first year of 2024 exceed €200,000.
🥊 Competitors → 2 notable competitors
Libelium and Smart Parking System
❓Q&A with the Team
We had the chance to ask some questions to Andrea Buri, Founder and CEO at CityZ.
1. Why are you the best team to build this?
As a team, we possess a unique combination of skills, experience, and dedication that makes us the best choice to build this project. Our team members bring diverse expertise from various fields, including engineering, technology, business development, and project management.
2. What progress has been made?
Our technology and product have undergone significant development, with improvements in functionality, reliability, and performance. We have achieved key milestones in the refinement of our sensor technology and software platform
3. What is your fundraising situation?
Our fundraising situation is currently stable. We recently completed a successful round of investment, securing €575,000 in funding. This investment will support our growth initiatives, including product development, market expansion, and scaling operations. Additionally, we continue to explore opportunities for strategic partnerships and additional funding to fuel our long-term growth strategy. We're also planning to open another funding round in a few months to further scale our market presence and accelerate our growth trajectory. This additional round will enable us to pursue larger opportunities, expand our reach, and solidify our position as a leader in the industry.
3. What are your next steps?
Our next steps involve installations in several Italian cities and working closely with our initial clients to deploy our technology across the country. This will allow us to establish a strong foothold in the Italian market and demonstrate the effectiveness of our solution in real-world scenarios.
Many thanks to Andrea for the interesting conversation!
👨🏻💻 My Critical View
While CityZ presents a promising concept in addressing urban mobility challenges through smart parking solutions, a critical analysis reveals several considerations:
Market Size vs. Competition: Although the smart parking market is growing rapidly, CityZ faces competition from emerging players. Penetrating this competitive landscape requires robust differentiation strategies and effective market positioning.
Revenue Potential vs. Funding: While CityZ's projected revenue for 2024 is promising, it's essential to assess whether this revenue projection aligns with the funding raised. A critical aspect is ensuring efficient utilization of funds to achieve revenue targets and sustain operations.
Visibility and Market Penetration: Despite innovative technology and strategic partnerships, CityZ's visibility in the market may be hindered by limited resources for marketing and expansion efforts. Addressing this challenge requires a focused approach to enhancing brand awareness and market penetration strategies.
Future Capitalization and Scalability: While CityZ's pre-seed funding round is a positive indicator, future capitalization relies on demonstrating scalability, market traction, and the ability to attract subsequent funding rounds. Critical to this is effectively showcasing the scalability of its technology and market adoption potential.
Ease of Competition and Differentiation: Competing with emerging players necessitates clear differentiation and value proposition. CityZ must continuously innovate its technology, enhance customer experience, and differentiate itself from competitors to maintain a competitive edge in the market.
Regulatory and Technological Risks: CityZ operates in a regulated industry with potential regulatory changes impacting its business model. Additionally, rapid technological advancements pose risks of obsolescence, requiring continuous innovation and adaptation to stay ahead.
Customer Adoption and Satisfaction: Success in the smart parking industry relies heavily on customer adoption and satisfaction. CityZ must focus on understanding customer needs, delivering superior solutions, and providing excellent customer support to drive adoption and retention.
Stay tuned to discover the next startup on The Weekly Deal!