GetMy Parking, a Delhi-based startup providing cloud-based mobile parking technology has raised $3 million (Rs 19.2 crore) funding from BEENEXT, IAN Fund and Indian Angel Network.
Earlier in February 2017, the company raised pre-series A funding of $1.1 million (Rs.7.35 crores) from Indian Angel Network (IAN), BEENEXT, The Chennai Angels (TCA), and Sunil Munjal (Hero group). Prior to this, in January 2016, the startup had raised $0.376million (Rs.2.5 crores) from The Chennai Angels (TCA).
The company plans to use freshly infused funds to expand to more cities, both in India and overseas. Commenting on the development, Rasik Pansare, Co-founder and CMO, Get My Parking told PTI, “Parking management is still an unorganised segment in India. We are trying to digitise the demand side and we are in 300 locations in Delhi-NCR already.” Pansare further informed that the company is also working as part of some smart city pilots like one in Navi Mumbai.
Founded by Chirag Jain, Rasik Pansare and Rahul Gupta, Get My Parking uses Internet of Things (IoT) for its smart parking platform. The startup’s platform digitises parking spaces. Its mobile app gives users a bird’s eye view of all the legal parking lots, allowing them to search, book and navigate to the relevant parking spot.
The startup claims that it currently processes about 1.7 million parking tickets a month in the Delhi-NCR region.
With the team of 60 people and plans to hire about 20 more people in the next 2-3 months, Get My Parking has already set up an international business development team that is working on expanding the company’s operations to 15 countries by March next year. The company has already entered markets like Taiwan and Indonesia and is carrying out pilots in some countries of Europe.
Currently, with the smart cities taking off rapidly, there is an urgent requirement for indigenous smart solutions that ease traffic and mobility. So apart from cashless parking management systems and mobile applications, Get My Parking has city dashboards and enforcement applications for government authorities, revenue analytics for contractors, APIs for mobility providers and hardware integrations with OEMs. But for these to be effective, different stakeholders should be brought together. So, Get My Parking has built a completely integrated IoT platform that connects all these solutions and their stakeholders seamlessly.
The rapid urbanization in developing nations like India never gave much attention to mobility planning. Get My Parking is now poised for international growth and has recently set up country partners in 2 countries. With Get My Parking maturing from a novel concept to a trusted smart parking platform, our cities finally have the data driven solutions to make urban driving hassle-free.