Get My Parking, a cloud-based mobile parking technology startup
has raised $1.1 million (Rs 7.35 crore) in a pre-series A round backed by investors such as Indian Angel Network
, The Chennai Angels
(TCA), and Hero Corporate Services chairman Sunil Munjal.
Based out of Delhi, the 18-month-old startup was founded by IIT Madras alumni Chirag Jain and Rasik Pansare, an alumni of FMS Delhi in 2015, with an aim to provide real-time view of all parking information to urban commuters, parking management companies, and the city administration.
“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,” said Rasik Pansare, Co-founder and CMO, Get My Parking.
Pansare further revealed plans to achieve international growth by setting up country partners in 6 countries with the enhanced products to fit the requirements of a global parking solution.
For last one year, the startup has been aiming to organize the parking industry in Delhi NCR with data and technology. Now it plans to use the incoming funds to accelerate their product innovation and business impact.
Last November, during the India-UK Tech Summit
held in Delhi, the Tech Rocketship Awards
were held to encourage Indian startups to expand to UK. Get My Parking was selected as one of the Top 10 winners.
“The opportunity to provide everyday value to an automobile owner with friction-free parking is being delivered by Get My Parking. The team has demonstrated its deep focus in scaling up to over 1.5 Million tickets a month. Their technology platform that triangulates digitization, integration, and automation at the parking lot with the consumer to manage demand and payments has a global market,” said Sudhir Rao, Lead Investor, TCA.
In January 2016, the startup had raised $375,000 (Rs 2.5 crore) from The Chennai Angels. The startup also bagged appreciation from PM Narendra Modi last year during Maha Kumbh Mela in Ujjain where they reportedly digitized 400 hectares of parking with the capacity of 2,00,000 vehicles.