Get My Parking raises pre-series A funding of $1.1mn led by IAN

Delhi-based startup, Get My Parking, which provides cloud-based mobile parking technology has raised pre-series A funding of $1.1 million from investors such as Indian Angel Network (IAN), BEENEXT, The Chennai Angels (TCA), and Sunil Munjal (Hero group).

The 18-month-old startup, founded by Chirag Jain (IIT Madras) and Rasik Pansare (FMS Delhi) will use the fund to accelerate their product innovation and business impact.

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 poised for international growth by setting up country partners in 6 countries with the enhanced products to fit the requirements of a global parking solution.”

Get My Parking provides IOT-based smart parking platform which digitizes any parking space. Its mobile app gives bird’s eye view of all the legal parking lots and empowers users to search, book and navigate to relevant parking.

The user can save time, fuel and energy and reduce urban traffic congestion and consequent pollution. Get My Parking also has city dashboards and enforcement applications for government authorities, revenue analytics for contractors, APIs for mobility providers and hardware integrations with OEMs. The startup has built an entirely integrated IOT platform that connects all these solutions and their stakeholders seamlessly.

Last year, their smart solution was appreciated by PM Modi during Maha Kumbh Mela in Ujjain where they digitised 400 hectares of parking with the capacity of 2,00,000 vehicles. Also, their solutions officially powered event parking during IPL 2016, Krishna Pushkaralu, Lucknow Mahotsav, and Hyderabad Numaish. Get My Parking has also won the Tech Rocketships Awards at India-UK Tech Summit by UK Govt.

Lead TCA Investor SudhirRao, Managing Partner of IndusAge Partners commented, “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 digitisation, integration, and automation at the parking lot with the consumer to manage demand and payments has a global market.”

The startup has partnered with industry leaders like Cisco, Intel, IBM, Sterlite, EY, Ericsson et al. The brilliant innovation digitises any unorganised parking at a fraction of other alternatives’ price and time.

In January 2016, the start-up had raised $0.376 million from The Chennai Angels (TCA).