The BMW Group’s venture capital entity, BMW i Ventures, announced a strategic investment in on-demand valet and services company ZIRX.
An innovative on-demand parking and car services company built for drivers, ZIRX intends to eliminate the frustration that drivers face in parking in major urban markets like New York, Los Angeles, San Diego, San Francisco, Seattle and Washington D.C. The investment increases the number of mobility services start-ups in BMW i Ventures’ portfolio to 13. The current portfolio includes companies like Chargepoint, Life360, Moovit, JustPark, Chargemaster and Zendrive.
“BMW i Ventures provides equity financing to service providers it identifies as having high potential to make urban mobility smarter, more efficient and more flexible,” said Ulrich Quay, Managing Director of BMW i Ventures. “ With its combination of service and technology that makes it easier for drivers to park and take care of their cars, ZIRX has the potential to be a central component of on-demand services.”
“We are excited that BMW i Ventures has made a strategic investment in ZIRX and are looking forward to working together to help deliver our vision of making parking and car services easier and more convenient than ever,” said Sean Behr, Co-Founder and CEO, ZIRX. “Our unique on-demand valet and services offerings are taking off in every market we’re in today and over the coming weeks and months we’ll be bringing new products and services out that will continue change the world’s $41B parking market.