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The Chennai Angels (TCA), an angel investing group, has invested Rs 2.5 crore in New Delhi-based start-up Agile Parking Solutions Pvt Ltd, which is engaged in smart parking technology that seeks to digitise the parking industry.
Agile Parking Solutions, known by the brand name Get My Parking (GmP), was founded by Chirag Jain and Rasik Pansare, who are alumnus of IIT Madras and FMS Delhi respectively.
The start-up has been working on an innovative model to solve the rising parking problems and creates cloud-based mobile parking technology, which makes realtime parking information accessible for both the supply and demand side.
A 25-member team, Get My Parking, has already begun work in the National Capital Region. Its mobile app empowers self-driving users to search, book and navigate to parking hassle-free. The urban public can simply access a bird’s eye view of all the legal parking lots with map locations, availability, pricing and other details and get assured parking with cashless payment and navigation. It will save the user time, fuel and energy and reduces urban traffic congestion and consequent pollution by up to 30 per cent, according to a statement.
“The GmP team is driving towards a platform to delight its customers. Within eight months of commercial operations, they are at the cusp of servicing over a million transactions a month in the NCR region alone,” said Sudhir Rao of IndusAge Partners, who led the investment from The Chennai Angels.
“People are buying more vehicles today than ever before. The exponential rise in demand for parking space is crippling urban infrastructure and causing needless congestion. We believe only technology and data-driven solutions can solve this chronic problem with efficient use of existing parking space,” said Chirag Jain of Agile Parking Solutions.
The company claimed its data centric approach will give insights into the urban transport landscape that can be utilised in better urban policy-making and efficient infrastructural use for smart cities.
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