Agile Parking Solutions, better known by its brand name – Get My Parking, has today raised around Rs. 2.5 crore in a seed funding round from The Chennai Angels, a group of angel investors.
Sudhir Rao of IndusAge Partners led the investment from The Chennai Angels. No further details has been disclosed related to this funding round.
New-Delhi based Agile Parking Solutions was founded by Chirag Jain and Rasik Pansare around eight months ago. With a team of close to 25 members, the company is currently operating in Delhi NCR.
It has been working on an innovative model to solve the rising parking problems. It has created a cloud-based mobile parking technology, which makes real-time parking information accessible for both the supply and demand side.
Its mobile application empowers self-driving users to search, book and navigate to parking hassle-free. Users can access a bird’s eye view of all the legal parking lots with map locations, availability, pricing and other details. The app also provides navigation functionality along with a cashless payment system.
According to the company, its system will save user time, fuel and energy. It claims to reduce urban traffic congestion and consequent pollution by up to 30 per cent.
The company further claims that its data centric approach will give insights into the urban transport landscape that can be utilized in better urban policy-making and efficient infrastructural use for smart cities.
Sudhir Rao of IndusAge Partners, who led the investment from The Chennai Angels, said,
Automotive customers now seek real-time solutions and a triangulation of location, service aggregation, payments and community shared feedback to delight their personal journeys with. The GmP team is driving towards a platform to delight its customers. Within eight months of commercial operations, they are at the cusp of servicing over a million transactions a month in the NCR region alone.
Chirag Jain of Agile Parking Solutions said,
People are buying more vehicles today than ever before. The exponential rise in demand for parking space is crippling urban infrastructure and causing needless congestion. We believe only technology and data-driven solutions can solve this chronic problem with efficient use of existing parking space.
The Chennai Angels, founded in 2007, has invested in around 34 startups. In the year 2016, it has invested in four startups so far, including Betaout, SP Robotics, Finbud Financial Services, and Silvan Innovation Labs.