Shell Malaysia Trading Sdn Bhd has announced that it will be acquiring a 50% shareholding stake in the company behind ParkEasy, Pixelbyte Sdn Bhd, marking this as Shell’s first investment in a local Malaysian tech start up.
A mobile application software that not only lets drivers park quickly in shopping malls and other locations, ParkEasy is the only service in Malaysia to offer a pre-booked slot for EV Charging. This investment gives Shell an immediate path to an established parking and e-mobility platform in Southeast Asia.
“Decarbonising mobility and enabling better services to our customers through digital innovation are core to our ‘Powering Progress’ strategy,” commented Shell’s general manager mobility Seow Lee Ming on the deal. “We intend to make investments that will help us serve our customers better through the energy transition and pressures of modern living.”
"We value this opportunity to partner with a young Malaysian start-up and believe our combined strength will help us develop superior mobility products and services for our customers."
Over the last three years, ParkEasy has grown its business from a parking reservation app to include other offerings such as sales of its proprietary smart parking solutions and electric vehicle charging bay management systems.
The acquisition is expected to complete in the third quarter of 2022.