Colorado-based mobility platform Modii kicked off the new year by rebranding from its original name, Spot Parking, to Modii. This week, the company secured new funding to test out its technology in a new state.
Modii announced on Wednesday that it received a $500,000 research grant from The North Central Texas Council of Governments (NCTCOG).
Modii develops modern mobility solutions, such as a parking finder platform that can help users find parking lots and streets with parking availability through an interactive map. Modii also manages data and uses it to provide software that displays traffic flow, navigation and live occupancy insights.
The grant will fund the company’s research into smart campus mobility and will find ways to improve parking efficiency, reduce traffic congestion and lower carbon emissions. The company is partnering with the University of Texas at Arlington (UTA) for the research.
“We are thrilled to be partnering with UTA on this important research project,” Modii President Mark Frumar said in a statement. “While the implementation of Modii’s Campus Platform will provide immediate benefits to the UTA campus, the dedicated analysis by the research team enables us to perfectly match the solution to the changing consumer expectations around mobility. This grant will help us to make a real difference in people’s lives.”
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