Taiwan Mobile Co., Ltd. announced on October 27 its investment of NT$200 million in Series A funding round (NT$260 million) in the Taiwan-based smart mobility platform of USPACE Technology Co., Ltd., as it seeks to expand its 5G footprint through diversified strategic investments, taking the seat as the largest investor. In line with the trend of global sustainability, Taiwan Mobile is committed to the goal of a sharing economy. Partnering with USPACE, a company that provides innovative services such as shared parking spaces and car rental services, allows both parties to carry out in-depth collaborations to fuel the next growth engine driven by 5G by leveraging the technological advantages of Taiwan Mobile as well as USPACE’s Internet of Things (IoT) services.
Taiwan Mobile President Jamie Lin said that after Taiwan Mobile announced its merger plan with Taiwan Star at the end of last year, it prompted industry peers to follow suit. This year, Taiwan Mobile also invested in SoundOn Global, CloudMile, and subscribed to LINE Bank Taiwan Limited's common shares via a private placement with an aim to expand the 5G ecosystem and broaden services through strategic investments in multiple fields. In addition, Taiwan Mobile is the first telecom operator in Taiwan to formally join RE100. By taking part in the initiative, the company is committed to using 100% renewable electricity by 2040, achieving net-zero carbon emissions by 2050, and realizing the vision of "Green" under the "Super 5G Strategy,” which is to show love for the Earth. In addition to recognizing the “sharing economy” as a rising trend, Taiwan Mobile’s investment in USPACE is also due to the fact that it can make a positive impact on society and the environment in terms of carbon reduction. Taiwan Mobile will also leverage its strengths in telecommunications, big data, and the IoT to optimize the services of USPACE, and to deliver diverse and high-quality solutions to customers while creating a new growth curve.
“Over the past five years, USPACE has helped create over 45,000 parking spaces at more than 500 carparks, accumulating up to 500,000 member profiles with more than 2 million transactions completed thus far,” said Allen Song, USPACE co-founder.
He added that each transaction helps car owners save about 8 minutes of time and reduces about 1kg of carbon emissions, which adds up to 2,000 tons of carbon dioxide emissions, or about 5.13 Daan Forest Park's annual carbon adsorption capacity. Now, USPACE not only provides shared parking spaces, but has also put down roots in the electric car sharing market. With the investment from Taiwan Mobile, it will help USPACE to develop a more effective and comprehensive strategy.
By working with owners of carparks, buildings, and open spaces to install "IoT smart locks" at vacant parking spaces, it enables drivers with parking needs to reserve a parking lot through an app. At the same time, it also generates revenue for the owners. USPACE recently also launched a Tesla car rental service at designated districts in the Greater Taipei metropolitan area with a delivery service that can be called upon arrival within an hour.