IoT-based parking startup Parkobot raises Rs 2.09 Cr Seed funding from IPV
High-net-worth individuals participated in a seed round led by Inflection Point Ventures (IPV) that raised Rs 2.09 crore (roughly $243K) for the IoT-based parking startup Parkobot.
The money will be utilized to diversify its product line, improve backend operations, penetrate new markets, and expand infrastructure.
Amrit Choudhury, Raj Kumar Bihani, and Animesh Mukherjee founded Parkobot, which is now operating covertly while establishing the foundation for growth. Through the integration of an IoT-powered smart parking space barrier with the Parkobot mobile app, it provides a tech-enabled solution that enables users to profit from their private parking spaces.
By allowing hourly rentals of unused spots, it functions as a real-time, on-demand platform.
The platform, which is based on a proprietary tech stack that includes scalable IoT devices and an internal Parking Management System (PMS), currently handles over 20,000 bookings per month. With very little manual involvement, it facilitates automated, reserved parking experiences.
By maximizing unused parking spaces, the startup hopes to alleviate urban congestion. It has already installed its smart barriers in strategic high-traffic areas.
