Get My Parking Poised for Big Leap with New Partnerships and Fundraise3 min readReading Time: 2 minutes
By Rasik Pansare (Co- Founder, Get My Parking)
We have some good news and some great news. The good news is that some amazing investors have now joined our team. The great news is that we have crossed an inflection point with game changing partnerships with industry leaders. Get My Parking has been exceeding challenging milestones through teamwork and innovation over last 18 months. Though we became market leaders in our first 6 months, our work then had just begun. It has been an eventful journey. Right from start our focus has been on digitizing and organizing the supply side of parking industry. I remember the initial days when Chirag and I used to spend 14 hours a day at parking lots to understand the ground reality that plagues the industry. Even today our team is constantly on the frontline leading the parking revolution, but now there are 45 of us.
Our frugal innovation is known for digitizing any type of unorganized parking at the fraction of other alternatives’ prices and time. Naturally, our smart parking system has spread like wild-fire among parking lot owners who are looking for an affordable solution to increase their parking’s efficiency and reduce revenue leakage. We now process 45,000 parking tickets through 400 smart parking systems installed in 150+ locations across Delhi NCR everyday. And occasionally we get the opportunity to ease the parking problem at mega events, like the Maha Kumbh Mela in Ujjain when we digitized 400 hectares of parking with capacity of 2,00,000 vehicles.
Smart Parking for Smart Cities
With the flourish of Smart Cities, there is an urgent requirement for indigenous smart solutions that ease traffic and mobility. So apart from cashless parking management systems and mobile app, we also provide city dashboards and enforcement app for government authorities, revenue analytics for contractors, APIs for mobility providers and hardware integrations with OEMs. But for these to be effective, different stakeholders needed to be brought together. And that is why our tech team has now built a completely integrated IOT platform that connects all these solutions and their stakeholders seamlessly.
An integrated platform is the key. Now our clients can get everything that a smart parking project of any size requires, all at one place knit together. This is one of the primary reasons of GMP being the preferred parking partner for Smart Cities. Our partners now include industry leaders like Cisco, Intel, IBM, Sterlite, EY, Ericsson, and many more.
Funding and Growth
We recently raised pre-series A funding of Rs.7.35 crores ($1.1 million) to accelerate our product innovation and business impact. The participating investors include Indian Angel Network, BEENEXT, Mr.Sunil Munjal (Hero group), and our existing investors The Chennai Angels (we had previously raised Rs.2.5 crores from TCA in Jan 2016). This is a huge validation of our efforts and execution. Our mentor and friend Sudhir Rao, Managing Partner of IndusAge Partners and lead investor of TCA, has been quite generous with his guidance and support.
The rapid urbanization in developing nations like India never gave much attention to mobility planning. We are now poised for international growth and have recently set up country partners in 2 countries.
Each phase in a startup’s journey has it’s own merits and challenges. Get My Parking is now maturing from a novel concept to a trusted smart parking platform. We look forward to making real impact at global scale with our technology and execution.