Park+, which is looking to digitize parking across India, has now secured $11 million in the funding round led by the venture capital funds Sequoia India and Matrix Partners India.
Some of the prominent angel investors like the Kunal Shah, Rohit Bansal, Kunal Bahl, Rajesh Hemrajani, and others also participated in the round.
Park+ is a mobile app-based platform that provides an automated parking system as well as a cloud-based security solution for daily corporate, commuters, and commercial establishments.
It offers real-time parking discovery. Payment, booking, and tracking. The company us founded by the Ex-Paytm employee, Amit Lakhotia.
“Parking is a massive problem faced across all major urban cities in India. People today don’t have any visibility of real-time availability of parking spaces in the areas they are venturing out,” Lakhotia, who was VP at Paytm and who also had a stint at Indonesian e-commerce firm Tokopedia. “With technology, we are looking to solve the problem faced by drivers and commuters on a daily basis.”