Parkobot secures Rs 2.09 Cr in seed round led by IPV

Parkobot, an IoT-based parking startup has raised Rs 2.09 crore (around $243K) in a seed funding round led by Inflection Point Ventures (IPV), with participation from high-net-worth individuals. 

The startup plans to use the funds to grow infrastructure, expand into new markets, improve backend operations and add more products to its portfolio.

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Mitesh Shah, Co-founder of IPV says, “Urban parking is a huge challenge facing today’s cities. Poor planning and lack of proper parking spaces lead to encroachment on roads, illegal parking and congestion. However, Parkobot is driving the change by bringing in technology and smart parking systems that provide real-time availability of parking spaces and making underutilized private parking spaces available to the public.” 

Amrit Choudhury, founder of Parkobot, said, “Parkobot envisions decongesting India’s streets by utilizing underutilized private parking spaces, transforming them into revenue-generating assets via our IoT-enabled Parkobot barrier and app. Our goal is to create cleaner skies, less traffic congestion and seamless urban mobility for all.” 

About Parkobot

Founded by Amrit Choudhury, Raj Kumar Bihani and Animesh Mukherjee, Parkobot, currently operating in stealth mode, is building a tech-driven platform that helps users earn money by renting out their private parking spots. 

Its IoT-enabled smart parking barriers, connected to the Parkobot mobile app, allow for real-time, hourly rentals of unused spaces.

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With over 20,000 monthly bookings, the platform runs on a proprietary tech stack featuring scalable IoT devices and an in-house Parking Management System (PMS). This enables smooth, automated, and pre-booked parking with little manual effort.

Already active at key high-traffic locations, Parkobot aims to ease urban congestion by unlocking the value of underused parking spots.