Nov 7, 2025 - Business

Metropolis raises $500 million for AI parking garages

Dan Primack

Illustration of a fleet of cars on a hundred dollar bill with Benjamin Franklin's eyes peering through. — Illustration: Aïda Amer/Axios

Metropolis, a tech-enabled parking lot network, has raised $500 million in Series D funding led by LionTree at around a $5 billion valuation. It also secured a $1.1 billion syndicated term loan led by JPMorgan.

Why it matters: This is both a short and long-term bet on transportation automation.

For now, it's about consumer convenience — applying the Amazon Go model to parking. Metropolis recognizes the cars and automatically charges drivers via an app. No tickets or on-site payments.
Longer term, it's a bet that automated fleets will need somewhere to go when not in use.

Other investors in the Series D round include Eldridge Industries, Slow Ventures, DFJ, Vista Credit Partners, SoftBank, Tekne Capital, and BDT & MSD credit funds.

The bottom line: LA-based Metropolis claims to be "the largest parking network in the United States, with 4,200+ locations and operations in 40 countries worldwide."

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Metropolis raises $500 million for AI parking garages

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