BENGALURU: Get My Parking, the mobility startup, has raised $6 million as part of a new funding round led by IvyCap Ventures along with its existing investor IAN Fund.
The company plans to extend its footprint in the US, Latin America, and Australian markets and use the new funds to develop its Internet-of-Things (IoT) platform. The startup also plans to expand its team by hiring people in the engineering and product development teams with the newly infused capital.
Get My Parking, a six-year-old startup, helps parking operators and facility managers to convert parking spaces into a digital format. Get My Parking upgrades physical parking lots into digital mobility hubs with contactless access and cashless payments, using their technology which is white-label software. Through their platform, operators can also launch their consumer app and loyalty programs with the option to customize.
Chirag Jain, CEO of Get My Parking said that he is very excited for the future of Get My Parking and said that parking is a very underutilized real estate that is uniquely positioned to serve the all-time changing urban area needs. He also told that the startup enables seamless use of parking for shared mobility, storage, and deliveries for eCommerce, EV charging, and on-the-go automotive services. He also adds that with their modular, affordable, yet cutting–edge technology, they are confident in converting parking lots into mobility hubs, worldwide.
The company has already digitally transformed over 3000 parking lots across India, Europe, and the US.
Get My Parking offers a configurable admin dashboard and other creative applications like dynamic pricing, occupancy predictions, intelligent enforcement, and so on through its white-label software.‘GMP Permit’ the smart parking startup’s latest product which enables operators to digitally manage long-term parking permits and issue them to contract parkers online.
Vikram Gupta, founder and managing partner, IvyCap Ventures Advisors Pvt Ltd. Showed immense confidence in the startup and said that they are impressed by the Get my Parking team and what it has achieved in an undeserved and underdeveloped sector. He also stated that they believe that the combination of the startup’s talent, technology, and strategy will truly transform the parking and mobility industry globally and that is what their investment is aimed at, to help them expand and grow globally.
Get My Parking has also managed to perform deployments for early customers in Brazil, UAE, Australia, and Taiwan. Also, it began its foray into the US market last year by signing up two large parking operators and establishing a sales partnership with industry veteran ParkTrans.
Saurabh Srivastava, co-founder of IAN said that he is proud to be a part of getting My Parking’s journey in the past and is excited to be a part of its future as well. With several global customers onboard, Get My Parking is set to leverage this untapped opportunity with its sharp focus on execution, he added.
The startup will also use the latest fundraise to build a US office and team.
Follow and connect with us on Facebook, LinkedIn & Twitter
