Saudi Parking Startup Arsann Secures $26.7 Million Investment

Saudi smart-mobility firm Arsann has secured $26.7 million in funding from investment firm Merak Capital to accelerate its expansion across parking infrastructure and urban mobility networks. The investment follows Arsann’s operation of over 270 smart-parking sites, facilitated by its IoT-driven platform and managing more than 10 million vehicles to date. Founded in 2017, Arsann provides a digital platform integrating license-plate recognition, IoT sensors and cashless payment systems across sectors including retail, airports and hotels. With the new funding, the company plans to expand into on-street parking networks, scale its operations for Saudi giga-projects and build capabilities in real-time traffic-data analytics — aligning with the Kingdom’s push towards a connected smart-city ecosystem