IvyCap leads $6 million funding round in mobility platform Get My Parking

Existing investor IAN Fund also participates. With this Series-A round, startup has raised $10.5 million in all so far

Mobility startup Get My Parking (GMP) has raised $6 million in a Series-A funding round led by IvyCap Ventures. Existing investor IAN Fund also participated in the round. With this round, the startup has raised $10.5 million in all so far.

The fund raise will be used to scale GMP's IoT platform and extend its footprint in the US, Latin American, and Australia markets. The startup also plans to use the capital for hiring and expanding its team, with a focus on engineering and product teams.

“Parking infrastructure needs dozens of equipment and tech vendors. Most of these offer discrete pieces of functionalities that work in silos, typically offline. We provide operators with the technology they need to launch innovative digital offerings relevant to modern consumers. We have drastically improved their time to market, user experience, loyalty, revenue, and business diversification,” said Rasik Pansare, Co-Founder, Get My Parking.

Founded in 2015 by Chirag Jain and Pansare, the startup has digitised over 3,000 parking lots across Europe, the US, and India. Its open IoT platform is an end-to-end digital enabler for parking operators and facility managers around the world. It empowers them to offer their end consumers online discovery and transaction capability. The company’s technology upgrades physical parking lots into digital mobility hubs with contactless access and cashless payments. Operators can also launch their consumer app and loyalty programmes in two weeks with customisations.

“We are impressed by the Get My Parking team and what it has achieved in an underserved sector. We believe in the combination of their talent, technology, and strategy to truly transform the parking and mobility industry globally. Our investment in the company is aimed at helping them in their expansion and growth,”  said Vikram Gupta, Founder and Managing Partner, IvyCap Ventures.

The startup has started working closely with automotive and logistics companies to solve the parking piece of the mobility puzzle. Recently, it announced a collaboration with Mercedes-Benz to assist end-users in discovering and navigating to a relevant parking lot.