Robotic parking co Parkomat raises NIS 23m in TASE IPO
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Despite the dearth of new offerings on stock marketplaces in latest months, Israeli robotic parking systems business Parkomat Intercontinental has reportedly ensured increasing NIS 23 million on the Tel Aviv Stock Trade (TASE) at a company valuation of NIS 41 million, right before cash. The IPO was led by underwriters Leumi Associates.

Centered in Ness Ziona, Parkomat was founded in 2009. The firm options, develops, provides, assembles and solutions mechanical and robotic parking programs for serious estate projects in Israel and overseas. At the identical time through its subsidiary Jupiter, Parkomat develops and sets up robotic installations for the rapid charging of electrical car batteries.

Parkomat cofounder Giora Naveh serves as CEO and chairman of the company. He is the firm’s controlling shareholder with each other with the other three founders.

The firm has been rising fast with revenue of NIS 66.3 million in 2021, up 51.2% from 2020, when profits was 28% better than 2019. General profit in 2021 was NIS 6.1 million, up from NIS 3.3 million in 2020, and NIS 380,000 in 2019.

Parkomat has 60 staff and says it has delivered 250 initiatives to date with countless numbers of parking destinations. The mechanical parking programs are centered on hydraulic lifting which requires edge of unused house in underground car parks (8% of corporation earnings), while robotic programs deal with parking in a computerized and automatic way (92% of income).

Parkomat estimates that every parking area charges a developer NIS 50,000, not which includes infrastructure, and estimates that the industry in Israel is worthy of NIS 500 million annually.

Posted by Globes, Israel business news – en.globes.co.il – on July 3, 2022.

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