Parkobot, a startup that uses smart (IoT-based) technology to make parking easier, has raised INR 2.09 crore (about $243,000) in seed funding. The round was led by Inflection Point Ventures (IPV), along with some wealthy individual investors.
The company will use the money to build more infrastructure, expand into new cities, improve its backend systems, and add new products to its lineup.
Mitesh Shah, Co-founder of IPV, says, “Urban parking is a huge challenge facing today’s cities. Poor planning and a lack of proper parking spaces lead to encroachment on roads, illegal parking and congestion. However, Parkobot is driving the change by bringing in technology and smart parking systems that provide real-time availability of parking spaces and making underutilized private parking spaces available to the public.”
Amrit Choudhury, founder of Parkobot said “Parkobot envisions decongesting India’s streets by utilizing underutilized private parking spaces, transforming them into revenue-generating assets via our IoT-enabled Parkobot barrier and app. Our goal is to create cleaner skies, less traffic congestion, and seamless urban mobility for all.”
Amrit Choudhury, Raj Kumar Bihani, and Animesh Mukherjee started Parkobot. The company is still operating quietly (in stealth mode), but it’s building a tech-based platform that lets people earn money by renting out their unused private parking spots.
It uses smart parking barriers with IoT technology, which are connected to the Parkobot mobile app. This allows people to rent out parking spaces by the hour in real time.
The platform handles over 20,000 bookings each month and runs on its advanced technology system, including smart devices and a Parking Management System (PMS). This setup allows for smooth, automated, and pre-booked parking with very little manual work.
Parkobot is already working in busy city areas and wants to help reduce traffic problems by making better use of empty parking spaces.
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