Mobility start-up and smart parking pioneer ‘Get My Parking’ (GMP) has raised ₹43 crore led by IvyCap Ventures. Existing investor IAN Fund also participated in the round. Masterkey Holdings served as the investment banker.

Founded in 2015 by Chirag Jain and Rasik Pansare, GMP has digitised over 3,000 parking lots across Europe, the US, and India. It will use the new funds to scale its IoT platform and extend its footprint in the US, LATAM, and Australia markets. The start-up also plans to use the capital for hiring and expanding its team, with a focus on engineering and product teams.

“We are very excited for what lies ahead of us. Parking is an under-utilized real estate that is uniquely positioned to serve the changing urban needs. Our technology enables seamless use of parking for shared mobility, storage and deliveries for e-commerce, EV charging, and on-the-fly automotive services. With our modular, affordable yet cutting-edge technology, we are confident of transforming parking lots into mobility hubs worldwide” said Chirag Jain, CEO, GMP.

Get My Parking’s open IoT platform is an end-to-end digital enabler for parking operators and facility managers around the world. It helps them to offer their end consumers online discovery and transaction capability. The company’s technology upgrades physical parking lots into digital mobility hubs with contactless access and cashless payments. Operators can also launch their consumer app and loyalty programs in just two weeks with customizations.

Behind the scenes, its IoT gate kit GMP Access can integrate any legacy parking equipment with any app or cloud software. This allows a host of multi-vendor sensors to work in tandem with plug-n-play API integrations. This makes it possible for connected cars and autonomous vehicles to conduct machine-to-machine interactions with parking gates for automated entry and payments.

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