VEStellaLab, Inc. (CEO: Jung Sangsu) won the “New S/W Product Awards Presidential Award” for its “V2X-Smart Parking System” at the “2023 Software Industry Day” celebration event held on November 27.

The ‘New SW Product Awards’ is an awards ceremony that recognizes outstanding products among the software developed by mid-sized companies and venture companies in South Korea. The Minister of Science and ICT’s Award is given to a total of 12 software products each year, and among them, the products that are considered to have particularly enhanced the country’s position receive the President’s Award (1 team) and the Prime Minister’s Award (2 teams).

VEStellaLab’s “V2X-Smart Parking System”, which received the President’s Award, is an AI-based smart solution that is expected to bring about the digital transformation of parking systems. This product received excellent reviews for its use of AIoT technology to provide drivers with real-time information on the location and route of available parking spaces. The Mobility as a Service (MaaS) platform associated with this solution is a system that integrates various distributed information and manages it as last-mile data. Since this system easily provides the service even in “GPS denied” areas, it can be developed into a new platform compatible with other future technologies, including self-driving cars.

Watch Mile”, a V2X intelligent parking system provided by VEStellaLab, is a solution that finds empty spaces in a parking lot and guides the optimal route. Users can check the status of parking lots in real-time through the AI video analysis function and check the location of empty spaces on a digital map. In addition, it can guide the driver by the shortest route to the desired parking space, such as near the entrance, in front of the EV charging station, or exclusive spaces for the mobility-impaired. Users can also check the location of their car on the WatchMile app when they return after parking.

Currently, VEStellaLab is also achieving good results in overseas markets such as Saudi Arabia, Indonesia and Vietnam. In particular, the company is implementing a smart city navigation project in Diriyah, where Saudi Arabia’s Vision 2030 project is underway.

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