Tencent was among the investors in a $12m series A round for the China-based parking space location app developer.

Internet company Tencent Holdings has taken part in a RMB80m ($12m) series A round for China-based car parking app Parkbees, China Money Network reported yesterday.

Shenzen Cowin Venture Capital Investments, Wang Jin-Wen buyout fund and Kun Ding car networking industry fund also took part, according to a statement by Parkbees.

The company’s app has been operational for around a year, allowing users to find available parking spaces on the street and in car parks.

Parkbees plans to use the funding…

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