BMW i Ventures, the venture capital entity of BMW will be investing in on-demand parking and car services company ZIRX.
ZIRX's service involves an app, which can be used by drivers to indicate their current location and an agent will arrive and valet park the car in a secure garage.
Users can also opt for ZIRX Care services, which include car washes, gas fill-ups, electric vehicle charging, oil changes, tire rotation and factory maintenance while they are away.
The service is basically aimed at solving the parking related problems that drivers face in the busy streets of New York, Los Angeles, San Diego, San Francisco, Seattle and Washington D.C.
ZIRX Co-Founder Sean Behr said: "We are excited that BMW i Ventures has made a strategic investment in ZIRX and are looking forward to working together to help deliver our vision of making parking and car services easier and more convenient than ever.
"Our unique on-demand valet and services offerings are taking off in every market we're in today and over the coming weeks and months we'll be bringing new products and services out that will continue to change the world's $41B parking market."
