IoT-enabled Get My Parking secures $3 Mn from BEENEXT, others

Cloud-based startup Get My Parking, that uses Internet of Things (IoT) for its smart parking platform, has raised $3 million funding from BEENEXT, IAN Fund and Indian Angel Network.

The 24 months old Delhi-based startup has previously raised fund Rs 7.35 crore as pre-series A and Rs 2.5 crore in angel investment and with the latest proceeds, it intends to expand to more cities, both in India and overseas.

The startup, founded by Chirag Jain, Rasik Pansare and Rahul Gupta, currently processes about 1.7 million parking tickets a month in Delhi-NCR region. It has also executed parking at large-scale events like Kumbh Mela and IPL cricket matches.

It was among the 10 winners chosen by the UK’s Department for International Trade in India for its Tech Rocketship Awards.

The startup works on some simple fundamentals and enables its users to search, book and navigate the space to park, saving them from circling around the parking yard to find a space where they can lock their vehicles, solving the most emerging problem of metro cities.

The user gets a bird’s eye view of all the legal parking lots with map of locations, availability, pricing and other details and gets assured parking with cashless payment and navigation.

To empower smart cities vision, apart from cashless parking management systems and mobile applications, it has city dashboards and enforcement applications for government authorities, revenue analytics for contractors, APIs for mobility providers and hardware integrations with OEMs.

To counter these challenges, the startup has built a completely integrated IoT platform that connects all these solutions and their stakeholders seamlessly.

"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 and CEO, GMP.

The startup has partnered with companies like Cisco, Intel, IBM, Sterlite, EY, Ericsson, including several others.

The company has already entered markets like Taiwan and Indonesia and is carrying out pilots in some countries of Europe. With a team of 60 people, the company plans to hire about 20 more people in the next 2-3 months.

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