Robotic parking co Parkomat raises NIS 23m in TASE IPO
Even with the dearth of new offerings on inventory markets in latest months, Israeli robotic parking techniques corporation Parkomat Intercontinental has reportedly ensured increasing NIS 23 million on the Tel Aviv Stock Exchange (TASE) at a business valuation of NIS 41 million, ahead of cash. The IPO was led by underwriters Leumi Partners.

Based in Ness Ziona, Parkomat was launched in 2009. The business options, develops, delivers, assembles and expert services mechanical and robotic parking devices for real estate projects in Israel and overseas. At the exact time as a result of its subsidiary Jupiter, Parkomat develops and sets up robotic installations for the rapid charging of electrical vehicle batteries.

Parkomat cofounder Giora Naveh serves as CEO and chairman of the firm. He is the company’s managing shareholder together with the other 3 founders.

The company has been growing rapidly with income of NIS 66.3 million in 2021, up 51.2% from 2020, when profits was 28% greater than 2019. Overall 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 workforce and claims it has shipped 250 assignments to day with 1000’s of parking destinations. The mechanical parking devices are centered on hydraulic lifting which takes edge of unused area in underground automobile parks (8% of organization income), even though robotic systems deal with parking in a computerized and computerized way (92% of income).

Parkomat estimates that each individual parking area charges a developer NIS 50,000, not such as infrastructure, and estimates that the market place in Israel is worthy of NIS 500 million on a yearly basis.

Posted by Globes, Israel company information – en.globes.co.il – on July 3, 2022.

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