Parking Solutions provider, Get My Parking has today announced that it has raised pre-series A funding of $1.1 million (Rs.7.35 crores) led by Indian Angel Network. Other significant investors for this fundraising round include BEENEXT, The Chennai Angels (TCA), and Sunil Munjal (Hero group). The venture offers a cloud-based mobile parking technology solution and is presently operational in Delhi/NCR with pilots initiated in Jaipur and Mumbai.
Get My Parking managed by Agile Parking Solutions Pvt. Ltd. plans to now channelize the fresh funding for product development and accelerating international growth. The platform is looking forward to setting up country partners in over 6 countries with enhanced products to fit the requirements of a global parking solution. GetMyParking has already hooked up with 2 countries which are not yet disclosed. This 18-month old startup has also built an integrated IoT platform for connecting various services offered.
Speaking on the latest investment round, Rasik Pansare, Co-founder and CMO, Get My Parking said,
Giving way to Mobility Planning, the fund will be invested in deploying our integrated smart parking platform. The pilots have been initiated in Jaipur and Mumbai in collaboration with local government authorities and several citywide contracts. We are currently poised for international growth.
Previosuly, Get My Parking has raised around Rs. 2.5 crore in a seed funding round from The Chennai Angels, a group of angel investors, around an year ago. Since the very beginning the providers have 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.
The platform offers versatile solutions including cashless parking management systems, mobile applications, city dashboards, enforcement applications for government authorities, revenue analytics for contractors, APIs for mobility providers and hardware integrations with OEMs. The company has also collaborated with big industry names such as Cisco, Intel, IBM, Sterlite, EY, Ericsson et al.
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.