Domestic startup Parabol received investment from EIT Urban Mobility

Having solutions focused on mobility, Parabol received investment from EIT Urban Mobility, a subsidiary of the European Union.

In recent years, we have conveyed to you the solutions of Parabol, which is a domestic startup based in Ankara, called Cermoni and Pintask. Parabol, which has solutions in the focus of mobility, received investment according to the information we have obtained today.

According to the information shared with us by Parabol, the company received investment from EIT Urban Mobility (European Institute of Innovation and Technology). Let’s add that how much investment Parabol has received or financial details about the company valuation are not shared.

EIT Urban Mobility, a subsidiary of the European Union, brings together stakeholders for more livable and sustainable cities in the field of urban mobility, ensuring the real-life implementation of innovative solutions and the realization of value-added collaborations.

According to the information conveyed by Parabol, the investment received from EIT Urban Mobility will be used to expand into the European market, especially in Germany. With investment, Parabol aims to reduce the negative impact of transportation on our cities in the fight against climate change and to bring innovative solutions developed to decarbonize the areas we live in, to Europe.

Founded in Ankara in 2011 by Metin Baris, Parabol develops solutions especially in the field of mobility. Let’s add that the big data-based, innovative and sustainable decision support systems developed by Parabol for sustainable mobility are used in more than 50 cities in 11 countries.

Having solutions named Cermoni, Pintask, Safely, Duma and Metis, Parabol actively serves in countries such as Georgia, Kazakhstan, India, Bahrain, United Arab Emirates, Nigeria and Palestine, apart from Turkiye.

Source: Webrazzi / Translated by Irem Yildiz

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