Get My Parking funding

get my parking funding

Mobility and smart parking startup, Get My Parking (GMP) announced on Thursday that it has raised Rs 43 crore in a new funding round led by IvyCap Ventures. 

The round also saw participation from existing investor IAN Fund while Masterkey Holdings served as the investment banker. 

The Bengaluru-based startup plans to utilize the freshly raised funds to expand its IoT platform and extend its presence in the US, LATAM, and Australian markets. The startup is also looking to use the capital for recruiting and expanding its team essentially in the engineering and product departments. 

Established in 2015 by Chirag Jain and Rasik Pansare, GMP’s open IoT platform is an end-to-end digital enabler for parking operators and facility managers around the world. It enables them to offer their end-consumers online discovery and transaction capability. 

The startup uses technology to upgrade physical parking lots into digital mobility centers with contactless access and cashless payments. 

So far, Get My Parking has digitized more than 3,000 parking lots across India, Europe, and the US. 

Commenting on the latest development, Chirag Jain, CEO, Get My Parking, said, “We are very excited for what lies ahead of us. Parking is an underutilized real estate that is uniquely positioned to serve the changing urban needs. Our technology enables seamless use of parking for shared mobility, storage, and deliveries for e-commerce, EV charging, and on-the-fly automotive services. With our modular, affordable yet cutting-edge technology, we are confident of transforming parking lots into mobility hubs worldwide.”

Speaking about the investment, Vikram Gupta, Founder and Managing Partner, IvyCap Ventures, said, “We are impressed by the Get My Parking team and what it has achieved in an underserved sector. We believe in the combination of their talent, technology, and strategy to truly transform the parking and mobility industry globally. Our investment in the company is aimed at helping them in their expansion and growth.” 

Get My Parking is working with automotive and logistics companies to resolve the parking issues. Recently, it announced a partnership with Mercedes-Benz to help end-users in locating and driving to a suitable parking lot.

Get My Parking appears to be an interesting platform in the mobility space with some great collaborations under its belt. I strongly feel the company will have huge growth prospects in the time to come. My best wishes to the team of Get My Parking.

Shishir Gupta, Founder and CEO, StartupLanes

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