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ParkMate has Secured $1.2 Million in a New Funding

ParkMate is the ultimate hassle-free parking solution. Our app-based platform offers a seamless experience by allowing you to 'Order a Valet' at any location.

By Aryan Sharma
New Update
ParkMate has Secured $1.2 Million in a New Funding

Cactus Partners is an early growth-stage startup fund, is leading a fresh round of $1.2 million secured by ParkMate, a supplier of parking solutions. The financing also included participation from current backers including the Marwah Group Family Office and Venture Catalysts.

Funding Utilisation

ParkMate claims that the money will be utilized to accelerate its growth trajectory, make investments in its workforce to attract clients, simplify its business processes, and keep coming up with new ideas.

Read Also - Univest To Secured $16 Million in Funding 

ParkMate, which was founded by Dhananjaya Bharadwaj, provides intelligent parking solutions to government parking contractors as well as corporate hotels, office buildings, and retail centers.

Car owners who use the company's unique DaSH (Drop & Shop) service may park their vehicles at shopping centers, arcades, and business buildings in less than two minutes. It is recognized by the Telangana, UP, Fun Republic, Phoenix Mills, and DLF governments. Another big market for ParkMate is smart cities.

Among its immediate rivals are Park+, Get My Parking, Park Smart, and Parky.

The biggest participant in this market is Park+. The business launched Drive+ in June, establishing itself as a possible rival to DriveU, Drivers4Me, Driverzz, PickMyCar, Namma Driver, and Cars24 in the on-demand driver services market.

Since January 2021, this is Cactus Partners' ninth investment. The company has made investments in businesses including Rubix Data Science, AMPM Fashions, Auric, Indigrid Technology, Lohum Cleantech, Kapture CX, and Vitraya Technologies. 

About ParkMate

ParkMate, the ultimate hassle-free parking solution. Our app-based platform offers a seamless experience by allowing you to 'Order a Valet' at any location. Simply arrive at your destination, and ParkMate takes care of the rest. Our professional valets pick up and drop off your vehicle at the nearest parking facility, while you track its location in real time through the user-friendly app.

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Univest To Secured $16 Million in Funding

Wealthtech startup Univest is reportedly talking about raising $16 million (around INR 135 crore) in its Series A funding round, through a combination of equity and debt.

By Aryan Sharma
New Update
Univest To Secured $16 Million in Funding

Univest is a wealthtech business is in talks to earn $16 million, or around INR 135 crore, for its Series A fundraising round.

According to ET, which cited people familiar with the situation, Bertelsmann India Investments (BII) is expected to lead the next round, which would involve a combination of loan and equity injection. Innoven Capital is also expected to participate.

Read Also - Arihant Foundations & Housing Limited has Raised Rs 109 Cr in Funding 

According to the article, Innoven Capital is anticipated to provide $3 million towards debt financing.

With the additional funding, Univest intends to launch a brokerage platform that prioritizes advice under a new company called Univest Broking.

Univest cofounder and chief executive Pranit Arora said, “We can’t confirm or deny anything at this stage. We will be sharing more information, once things are official.” 

Arora, Avneet Dhamija, and Vikash Agrawal founded Univest, a smartphone app that provides users with a range of investment options, in 2022. It offers consumers tailored investing advice according to their financial objectives and risk tolerance.

Transaction and subscription fees are the startup's main sources of income. Univest charges a tiny commission for each investment transaction that is started through the site.

Univest has two wholly-owned companies that are registered with SEBI: Uniapps, which is its wealth advice arm, and Uniresearch, which is its research analyst arm.

This development coincides with a peak in the growth of traditional trading and investing among investors and an increase in the reaction against cryptocurrency profits.

In response to the rising threat of online platforms that offer fantasy games to the public based on stock trading data of listed firms, markets regulator SEBI issued a warning earlier this month to the public about unapproved online virtual trading and gaming platforms.

Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:

Startup Stories: Discover inspiring tales of startups overcoming challenges and achieving success.

Startup Funding News: Stay updated with the latest news and trends in startup funding and investment.

Tags: Univest