Parkobot Raises INR 2.09 Cr from Inflection Point Ventures to Expand Smart Parking Solutions
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Parkobot has raised INR 2.09 crore in a seed funding round led by Inflection Point Ventures. The funding also saw participation from individual investors.
The funds will be used to strengthen infrastructure, expand into new cities, upgrade backend systems, and diversify the company's offerings.
The company has developed a unique IoT-powered smart barrier system integrated with a mobile application, allowing users to rent out private parking spaces on an hourly basis. This model effectively turns underused parking spots into income-generating assets while addressing urban congestion.
Amrit Choudhury, co-founder of Parkobot, said, "Parkobot envisions decongesting India's streets by utilising underutilised 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."
Parkobot was founded by Amrit Choudhury, Raj Kumar Bihani, and Animesh Mukherjee. The startup operates as a real-time, on-demand parking solution. Its system supports automated, pre-booked parking with minimal manual effort. It currently facilitates more than 20,000 bookings per month and is built on proprietary technology, including scalable IoT devices and an in-house parking management platform.
Mitesh Shah, co-founder of Inflection Point Ventures, stated, "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."
Parkobot continues to operate in stealth mode as it prepares for broader market expansion.
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