[Funding alert] ParkSmart Secures Funding from Japanese Investors and Gruhas - Nikhil Kamath's Proptech Fund

ParkSmart, a B2B SaaS company has announced its investment from Sin Growth Partners led by Hiro Mashita, Gruhas Proptech, strategic angels including Rajveer Ranawat (ex MD, AIG Direct Investments Europe) and Ameet Desai (ex Group CFO, Adani Group).

With its new funds, ParkSmart is ready to take the smart parking solutions market by storm and use it to further develop its position as a key player in India's infrastructure story.

Commenting on the funding round, Rahul Gupta, CEO of ParkSmart, expressed gratitude for the support received from investors. "This funding round marks a significant milestone for ParkSmart as we continue our mission to revolutionize parking solutions. We are thrilled to have the support of Hiro San and Gruhas, enabling us to accelerate our growth and further enhance our offerings.”

Read also - [Funding alert] TAC Security Raises INR 8.55 Cr Funding From Anchor Investors

ParkSmart has rapidly expanded its footprint and currently operates in seven states, serving 300+ Residential Societies, 2 Smart Cities and 1 Airport. With a network of over 1,300+ Parking Lots, the company manages monthly traffic of over one crore vehicles, generating parking tickets worth INR 400 crores annually. ParkSmart has strategic collaborations with MyGate, SIS and Acko.

Richa Bajpai, Founder of Campus Fund, commented, "We are immensely grateful to Nikhil Kamath, Abhijeet Pai of Gruhas, Ameet Bhai and to our investors Hiro San and Rajveer for their continued support in empowering student entrepreneurs on their journey to build innovative solutions from India for the world."

About ParkSmart

Founded by five visionary entrepreneurs - Rahul Gupta, Rishabh Nagpal, Vishva Sharma, Prateek Garg (all from IIT Delhi) and Ratan Anmol Sethi (Amity University), ParkSmart aims to digitize unorganized parking spaces across various domains including Smart Cities, Residential Properties (Societies), Malls, Corporate Parking, and Public Parking. The company provides comprehensive Hardware & Software solutions for Parking Flow Management, Advanced Revenue Analytics, Security Tools and Parking Spot Leasing facilities.

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

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

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

Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.