Bengaluru – Smart parking solutions provider Get My Parking has secured Rs 21.6 crore (~$2.5 million) in an extended Series A funding round, led by its existing investor IvyCap Ventures, with additional participation from Legacy Assets LLP, The Sarvasva Trust, and multiple angel investors.
This fresh capital injection comes four years after the company raised $6 million in its original Series A round in May 2021.
💸 Investment Breakdown:
- 🟢 IvyCap Ventures: Rs 13 crore
- 🟡 Legacy Assets LLP: Rs 3 crore
- 🟠 Others: Manish Kohli, The Sarvasva Trust, and 7 angel investors
The board approved issuance of 3,923 Series A2 CCPS shares at a premium valuation of Rs 55,088 per share, according to filings with the Registrar of Companies (RoC).
📊 Valuation Surge
Post-allotment, Get My Parking’s valuation is projected to increase by 90%, jumping from Rs 177 crore (~$21 million) during the 2021 round to approximately Rs 335 crore (~$39 million), as per Entrackr estimates.
🧠 What Does Get My Parking Do?
Founded in 2015 by Chirag Jain and Rasik Pansare, Get My Parking leverages IoT and AI-powered tech to provide smart parking infrastructure to operators. Its offerings include:
- 🔄 Automated entry & exit
- 💳 Digital payments integration
- 📍 Live parking space availability
- 📲 White-labeled apps for operators
The platform helps parking lot owners digitize their spaces, enabling seamless urban mobility.
📈 Financial Snapshot (FY24):
| Metric | FY24 Value | YoY Change |
|---|---|---|
| Revenue | Rs 29.4 crore | 🔼 +50% |
| Net Loss | Rs 6.5 crore | 🔽 -57% |
🧾 Cap Table Highlights:
- IvyCap Ventures – 15.87% (largest external shareholder)
- APCOA (Europe’s largest parking operator) – 12%
- Others – Legacy Assets, angel investors, and founders
🛣️ Market & Competition
Get My Parking competes in India’s evolving urban parking tech landscape, rivaling firms such as:
- Park+ (backed by Peak XV Partners) – Rs 131 crore revenue in FY24
- Parky, Park Smart, and other regional operators
🏁 What’s Next?
The freshly raised funds will be deployed towards:
- 🧾 Working capital support
- 🌍 Market expansion
- 🔬 Product R&D and platform upgrades
🔚 Final Word
As Indian cities battle rising traffic and parking chaos, Get My Parking continues to lead the digitization of urban mobility infrastructure. With a growing list of global clients and a rising valuation, the startup is on track to disrupt how India — and the world — parks.
