If traffic woes aren’t enough, commuters have to deal with the lack of parking space. How many times have we gone around circles trying to find that prized parking slot for our vehicles? ‘Pparke‘, a mobile application developed by Pristech Analytics which was founded by Shampa Ganguly, an IIM-B alumna, and Pritam Ganguly in August 2013, has devised a way to reserve a parking place in advance and in turn has lessened this herculean task. The company is being incubated at the NS Raghavan Centre for Entrepreneurial Learning (NSRCEL) at IIM-Bangalore.
Shampa Ganguly explained that the Cloud-based concept available on the Google Store as an app for download as well as on the Internet is mainly for parking availability information in any part of the Bangalore city. “You pay in advance and reserve a parking slot for yourself. Right now we are charging the same amount as the parking provider charges. Some malls have already registered with us and we have around 200 people using it so far. We plan to do this in schools and offices which are closed on weekends, especially in the heart of the city, she said.” she added.
Shampa comes with rich 10 years of IT experience in organizations like Daimler AG, Target Corporation & Geometric Software. She has played critical leadership role in implementation, project & program management, business consulting at both domestic and overseas locations like US, UK, Germany and China. Pritam (Co-Founder, CTO) has 14+ years of IT experience, in the field of semiconductor in Conexant Systems, Cortina Systems and Brocade communications. He has been involved in mission critical role and projects and been the pioneer in setting technical and design centre at domestic and overseas locations like US, Taiwan &China.
“Opportunity in this area is very vast and the market is still ripe. Organized parking sector is a more than $40 million industry, while unorganised parking sector is a more than $300 million industry, and growing at a combined annual growth rate of around 20-30%”, says Pritam.
With 7 full time members and 3 consultants based out of Bangalore, Pparke is planning to expand to 4 cities in 3 years in India and raise fund up to $2 million in next 6-9months. Also, they are looking forward to expand the team to 20 in next 2 years.
They provide the user with information that includes the lanes where the parking spots are available, and parking updates for the future. Also, the app serves as a platform to reserve the spot for off-street parking facility and help the user with location-specific information and custom retail offerings, providing the parking operator information related to forthcoming parking trends, revenue management, slot management and pricing decisions in a cloud based platform. To obtain information and guide people to the nearest slot, Pparke obtains their information from parking sensors, CCTV and cloud systems.
Pristech Analytics has undertaken the responsibility to merge technology and analytics for improved business. And with Pparke connecting people with neighbourhood parking, they are poised to help their customers provide a rationalized parking experience in the process; make city more environment-friendly. The company is in talks with Traffic Police in order to implement card system for the ‘pay and park’ system. They are also in process of joining hands with Bruhat Bangalore Mahanagara Palike for a partnership.
Being awarded as the top 10 promising start ups at Anthah Prerana 2014 organized by Tie Bangalore has been one of the company’s significant achievements. We wish them all the luck and success.