Parkobot raises Rs 2.09 Cr in seed round led by IPV

IoT-based parking startup Parkobot has raised Rs 2.09 crore (around $243K) in a seed round led by Inflection Point Ventures (IPV), with participation from high-net-worth individuals. 

The funding will be used to expand infrastructure, enter new markets, enhance backend operations, and diversify its product portfolio.

Founded by Amrit Choudhury, Raj Kumar Bihani, and Animesh Mukherjee, Parkobot is currently in stealth mode as it lays the groundwork for scale. It offers a tech-enabled solution that allows users to monetize their private parking spaces through an IoT-powered smart parking space barrier integrated with the Parkobot mobile app. 

It operates as a real-time, on-demand platform by enabling hourly rentals of unused spots.

The platform currently manages over 20,000 bookings each month and is built on a proprietary tech stack that includes scalable IoT devices and an in-house Parking Management System (PMS). It supports automated, pre-booked parking experiences with minimal manual intervention.

The startup has already deployed its smart barriers at key high-traffic locations and aims to reduce urban congestion by optimizing underutilized parking spaces.