Get My Parking raises Series A funding from BEENEXT and others

Delhi-based GetMyParking, a cloud-based startup that uses IoT for its smart parking platform, has secured $3 million in its series A funding from IAN Fund, BEENEXT and Indian Angel Network.

 Get My Parking raises Series A funding from BEENEXT and others

The company previously raised $1.1 million as pre-series A, and $3,76,000 in angel investment from The Chennai Angels.

Founded in 2015 by Chirag Jain and Rasik Pansare, GetMyParking digitises parking spaces through its mobile platform and provides real-time parking updates to commuters and enterprises. The platform also offers dashboards and enforcement applications for government authorities, a cashless parking management system with revenue analytics for contractors, APIs for mobility providers, and integration with hardware manufacturers.

“Existing parking experience tends to take a big chunk of time and fuel; this is where Get My Parking delivers a hassle-free parking experience to every automobile owner. Our dedicated team works towards digitization, integration, and automation of the parking industry while simultaneously catering to the global mobility trends,” said Chirag Jain, co-founder, GetMyParking.

Smart Cities Mission is an urban renewal and retrofitting program by the Government of India with a mission to develop 100 cities all over the country making them citizen friendly and sustainable.

Considering the opportunity, Saurabh Srivastava, co-founder of IAN & architect and mentor of IAN Fund said, “With several smart city projects on board, Get My Parking is perfectly poised to leverage this huge opportunity with their sharp focus on execution.”

The startup GetMyParking employs 60 people, and their platform currently processes 1.7 million tickets per month. It has deployed its technology across 300 locations in Delhi and executed parking at mega events like Kumbh Mela and IPL.

Further, the startup plans to utilize fresh capital for product enhancement and international market expansion. It 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. Most recently, the company has entered into Taiwan.

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