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Get My Parking raises $1.1 mn in Pre-series A funding round from IAN,TCA & others

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Get My Parking makes driving easier by aggregating parking information in real time

Bengaluru – Feb 23, 2017. RedNewswire/-

Delhi-based Get My Parking has raised $1.1 million in a pre-Series A round from Indian Angel Network (IAN), The Chennai Angels (TCA), BEENEXT and Hero group’s Sunil Munjal. 

The company is an 18 months old startup providing cloud-based mobile parking technology. It was founded in 2015 by IIT Madras alumni Chirag Jain and Rasik Pansare, alumni of FMS Delhi .The funds will be used to accelerate 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.”

The company provides IoT-based parking platform which makes real-time parking information accessible for both the supply and demand side. Its mobile app gives a view of all the legal parking lots and helps users to search, book, and navigate to relevant parking.

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.

TCA Investor Sudhir Rao, Managing Partner of IndusAge Partners, said..

“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 Mn tickets a month. Its 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 partners which includes Cisco, Intel, IBM, Sterlite, EY, Ericsson et al. In May 2016, the company had raised Rs 2.5 crore i.e. $0.376 million from The Chennai Angels.

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