Wisesight Technologies Overview
Wisesight Technologies has created a smart parking solution that enhances municipal revenue by streamlining payment processes. The system comprises multiple parking areas that share information, allowing real-time monitoring of street parking. Upon a vehicle’s entrance into a parking area, the Wisesight algorithm identifies the car through its license plate number, captured by a camera, and associates it with a unique ID number. The ID is tracked as the vehicle moves from one camera to another, and the system automatically activates the counter.
Cumulative Funding Raised Over Time ($)
Latest News
growth-positive
מעבדי AI של Hailo ששולבו במערכות של WiseSight יחסכו לנהגים בישראל עשרות מיליוני שקלים על תשלום עבור קנסות חנייה | New-Tech OnLine
Israeli start-up WiseSight, which develops smart systems for monitoring vehicle parking in various cities around the world, will integrate AI processors from Tel Aviv-based Hailo into its systems. The Hailo-8 processors will replace Nvidia processors previously used, offering significant cost reduction and the ability to connect up to 12 cameras to the edge computing unit. The WiseSight system, which identifies license plates and monitors blue and white parking spaces in urban areas, has been successfully installed in the US, France, and 10 cities in Israel.
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Imagine a city without parking tickets
Jerusalem-based startup Wisesight aims to ease parking pain points by leveraging big data, IoT, and AI. The company has raised $7.5 million and operates in eight Israeli cities. Pilot projects have begun in Jerusalem, Pittsburgh, and Dubai, as well as major carparks in Los Angeles International Airport, Hoover Dam, London, and Ukraine. Wisesights app-free solution uses connected sensors and live video feed to map parked vehicles, analyze traffic and parking patterns, guide motorists to vacant spots, and enhance security. The main use case is payment, with Wisesight embedded in payment apps used in partner cities. The company is establishing a US subsidiary in Phoenix.
CustomersPartnersInvestment
growth-positive
The Israeli startup using IoT sensors to seamlessly solve the parking nightmare
Wisesight Technologies, an Israeli startup, has developed smart parking technology that aims to solve the problems associated with parking in urban locations. The companys solution works directly with city municipalities to organize parking and ensure easy payment for users. Wisesight has already partnered with several municipalities in Israel and plans to expand to the US, Europe, and the Middle East. The company recently completed a $4 million Series A funding round from private investors and is considering going public in the future. Wisesight believes that its system can generate a yearly revenue of $133 million for a city compared to $48 million without it. The company aims to revolutionize the parking industry and make parking a frictionless experience for everyone.
CustomersPartners
growth-positive
Wisesight raises $4 million in Series A to create 'a world without parking tickets'
Israeli startup Wisesight has raised $4 million in Series A funding to expand its international operations and develop technology solutions for managing parking in smart cities. The company aims to make Israel the country with the lowest rate of parking tickets per capita. Wisesights system uses artificial intelligence to map vehicles parked on the street and in parking lots, reminding car owners to activate payment parking service apps to avoid tickets. It also provides insights to cities and municipalities on traffic jams, occupancy, and optimizing parking spots. Wisesight has already secured international contracts with parking lots in Los Angeles Airport, Phoenix Airport, and other projects in Europe.
InvestmentExpand
growth-positive
Israeli defense engineers create technology for ticket-free parking
Israeli start-up Wisesight is using smart-city technologies to tackle the problem of finding parking spaces. The companys solution involves installing cameras on streetlight poles to identify vacant parking spaces and the identity of parked vehicles. Wisesight has already partnered with several Israeli towns and is starting to implement its technology in Jerusalem, Haifa, and Ramat Gan, as well as in several American cities. The company aims to increase driver payments through its intelligent-parking solutions, which would generate more revenue for municipalities than fines. Wisesight expects to attract interest from larger industry players in the near future. As the company grows, it plans to remain relevant as autonomous vehicles become more common.
CustomersPartners
| Sector | Automotive & Mobility Technologies |
Funding
| Total funding | $7.7M |
| Last funding | $4M |
| Stage | C |
| Rounds | 4 |
| Investors | 2 |
Team Members
3
Employees: 11-50
Web & Social Links
| Website | www.wisesight.ai/ |
Locations
Professor Racah St, Jerusalem, Israel
82 Nassau St, New York, NY 10038, USA
Photos & Videos
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