Parkdepot raised €4.2 million in a seed round backed by henQ.

Parkdepot, a Munich, Germany-based software developer of solutions for parking management, announced the completion of a €4.2 million ($4.9M) seed round.

The money was raised from investors led by Amsterdam-based VC henQ and is intened to fuel the growth of the company, both sales and product-wise.

Parkdepot, founded in Moritz Bodenmuller, Bastian Pieper, Maximilian Ritter, Yukio Iwamoto and CEO Jakob Bodenmüller, develops software for parking lot management. The company aims to contribute to the fully digitisation of the parking lots and reducing costs associated with the automated process, mainly through the elimination of on-site staff and no expensive hardware required to get set up. The system uses a camera to scan cars that enter and exit parking spaces.

Parkdepot customers include McDonald’s Germany and grocery retailers REWE & EDEKA.