Inflection Point Ventures Invest INR 2.09 Crore in Parkobot for the Growth of Smart Parking Solutions Infrastructure, Entry into New Cities, System Enhancements, and Diverse Product Range Expansion.
## Parkobot Secures Seed Funding to Revolutionize Urban Parking in India
Parkobot, an innovative smart parking startup, has successfully secured INR 2.09 crore in a seed funding round led by Inflection Point Ventures, with participation from individual investors. The company, which operates as a real-time, on-demand parking solution, aims to tackle urban parking challenges and decongest India's streets by utilizing underutilized private parking spaces.
Founded by Amrit Choudhury, Raj Kumar Bihani, and Animesh Mukherjee, Parkobot has developed an IoT-powered smart barrier system integrated with a mobile application. The system supports automated, pre-booked parking with minimal manual effort, making parking a hassle-free experience for users. The startup currently manages high-footfall locations and has recorded more than 20,000 monthly bookings.
Parkobot's technology includes scalable IoT devices and an in-house parking management platform, offering real-time, location-based booking capabilities. The company operates in stealth mode but is well-positioned for expansion. The funds raised will be used to strengthen infrastructure, upgrade backend systems, and diversify offerings. The company also plans to expand into new cities, aiming to improve urban mobility and provide a decentralized alternative to traditional parking infrastructure.
Mitesh Shah, co-founder of Inflection Point Ventures, considers Parkobot as a solution to urban parking challenges. The startup targets a significant portion of the $114 billion global parking market, with India accounting for $9.5 billion. Parkobot envisions transforming underutilized private parking spaces into revenue-generating assets, thereby reducing urban congestion and enhancing urban mobility.
As Parkobot continues to operate in stealth mode, preparing for broader market expansion, it is poised to make a significant impact on India's urban landscape. The startup's vision of a smarter, more efficient parking system could well be the key to decongesting India's streets and improving overall urban mobility.
- Parkobot, a smart parking startup, secured INR 2.09 crore in funding led by Inflection Point Ventures and individual investors.
- The startup's technology includes IoT devices, a parking management platform, and an integrated mobile application for automated parking solutions.
- With the raised funds, Parkobot plans to strengthen infrastructure, upgrade backend systems, diversify offerings, and expand into new cities.
- Mitesh Shah of Inflection Point Ventures considers Parkobot as a solution to urban parking challenges, targeting a significant portion of the global parking market.
- Parkobot's vision is to transform underutilized private parking spaces into revenue-generating assets, improving urban mobility and reducing congestion.
