UEOPLE Technology, a Hangzhou-based company specializing in intelligent parking equipment and related products, has filed for an initial public offering (IPO) with the SEC to raise up to $9 million. The company’s primary focus is on providing equipment for intelligent parking and smart travel scenarios in China. Their product line includes access control system equipment like HD license plate recognition systems and dynamic face recognition systems, as well as custom hardware products.
UEOPLE Technology’s products and services cater to a diverse range of customers, including residential compounds, public parking lots, commercial complexes, airports, schools, office buildings, and industrial parks. The company has already installed its access control system equipment in parking lots in approximately 300 cities across China. Founded in 2012, they generated $15 million in revenue for the 12 months ended December 31, 2023.
The company plans to list on the Nasdaq under the symbol UEOP. Tiger Brokers is the sole bookrunner on the deal, and pricing terms have not been disclosed yet. UEOPLE Technology initially filed confidentially on December 27, 2023 and is now moving forward with their IPO to raise funds for further expansion and development of their intelligent parking equipment and services.