Parkmate Crosses 60,000 Users Within 8 Months of Operations

Brand Plans to serve 75,000 customers by the end of the current calendar year

Smart parking startup- ParkMate has successfully reached more than 60,000 users since it began operations. Its major traction is received in the city of Lucknow wherein the startup is well-established with a striking presence in the entire city. The Moradabad-based startup plans to work towards deeper penetration in North India in the ongoing calendar year.

Smart parking startup- ParkMate started the smart parking system along with a smart valet system in cooperation with Lucknow Nagar Nigam and Hazratganj Trader Association. The services were started as a leap towards decongesting the Hazratganj market and eliminating illegal roadside parking while facilitating the visitors of the market with a hassle-free parking experience.

The ParkMate services were launched on 1 February 2023 in Hazratganj, Lucknow. Within 8 months, ParkMate has served more than 60,000 customers in Northern India, and the number is increasing every day. The impact can be clearly seen on the roads as fewer cars can be found parked on the roadside now, especially in areas in Uttar Pradesh, Delhi NCR among others.

“People do not want to park illegally but are mostly forced to, as authorised parking areas are either far from the major markets or take a lot of time to reach. It forces people to park on the roadsides. We want to eliminate such parking anxiety from car owners’ lives and assist respective city administration in doing so.”, said Abhimanyu Singh, co-founder of ParkMate.

The startup aims to solve the problem of parking congestion for every car owner in India. All the products of ParkMate are Made in India. ParkMate has also generated employment avenues for the youth of Lucknow and neighboring areas.

Founded in 2021, ParkMate is India’s first intelligent app-based platform to offer smart, hyperlocal and on-demand parking solutions for users and businesses. ParkMate instant Drop & Shop service offers users real-time confirmed parking anywhere they want. With ParkMate, the attendants are OTP verified and the cars are GPS-tagged so that users can track the car’s live movement. When the customer needs his car, they simply have to click on ‘Get my car’ and it will be delivered back safely to them. Trishool system for parking management; Kavach System for Residential complexes and Automobile Dealerships are some of the services and products the brand is offering. ParkMate’s three-tier Trishool system offers an integration of the FASTag + ANPR +UniPay system which uses HD cameras, an inbuilt controller, and its in-house software to automatically scan licence plates and permit/log vehicle entry. More importantly, when a car owner parks his/her car with ParkMate, it is not at the owner’s risk but at ParkMate’s risk. To learn more, visit https://ParkMate.in/

WFC Leads the SEED Round in ParkMate, A Startup Enabling Smart Parking Solutions

Dhananjaya Bharadwaj - Co-Founder

ParkMate intends to utilise funds for team expansion and new technology development

The Start-up is from first cohort of EvlolveX, Global Accelerator Programme by WFC

We Founder Circle (WFC), an early-stage start-up investment platform led by a global community of successful founders and strategic angels, has announced leading the seed round in ParkMate, a start-up that delivers smart parking solutions. ParkMate has secured an undisclosed funding facilitated through EvolveX, Global accelerator programme by We Founder Circle. WFC has partnered with several strategic angels to help the start-up rise to market challenges while also gaining a competitive advantage over other players.

ParkMate parking solution eliminates the need to find or even visit a parking lot. The end user only needs to enter the destination credentials they want to visit and at the parking arrival, ParkMate’s dedicated parking attendant waits for assistance. The ParkMate attendant not only drives the car to the nearest available parking lot but also parks it for the client.

On the investment in ParkMate Bhawna Bhatnagar, Co-founder of We Founder Circle affirmed “We are delighted to have invested in ParkMate, which has demonstrated the ability to solve the saturation problem of parking spaces due to disproportionate demand and supply. Most Indian cities have unmanaged and haphazard parking, forcing citizens to park any type of vehicle in any location and in any direction. With ParkMate’s solutions, the parking system can be altered in a significant way, providing considerable benefits to society. At WFC, we promise to assist the start-up in all phases of development including business strategy, community building and connecting with skilled business mentors.”

 “The ParkMate team and subscribers are thrilled to have WFC as a strategic investing partner. Our technology and innovation are what we believe in, and now with WFCs guidance, we are sure to grow in the right direction. We are confident that this investment will pay off and contribute to our mission and help us scale quickly” said Dhananjaya Bharadwaj, Co-founder and CEO, ParkMate.

“While some surface parking remains overcrowded while most Multi-level car parking remains under-utilised. Also, most car parkings are at owners’ risk. Theft from cars including theft of valuables left in the car has remained a significant concern of vehicle owners. With ParkMate, the attendants are OTP verified and the cars are GPS-tagged so that users can track the car’s live movement. When the customer needs his car, he/she simply has to click on ‘Get my car’ and we have it delivered wherever they want. The great thing is when the users park their car with ParkMate, it is parked at ParkMate’s risk, not at the responsibility of the owner,” he added.

The brand plans to exhaust funds in expanding its team and acquiring talent under different profiles. It also intends to use a part of the fresh investment in strengthening the technology backbone of the solution.

About We Founder Circle

Established in 2020 in Mumbai, We Founder Circle is a global community of successful founders & strategic angels that have come together to push the start-up industry and steer it towards aggressive growth. WFC invests USD 50K- USD 2Mn amount in early-stage start-ups that are fueled with ambition, sustainability, and a strategic approach. WFC provides seed funding, business development, and global networking opportunities to start-ups as it believes early-stage start-ups need a lot beyond just financial support to become scalable and stable. It has already enabled USD 12 mn worth of investments across 33 start-up deals in the year 2021 alone and invested in 56 startups since incorporation.