The Chennai Angels has announced an investment of $376,000 (approx. Rs 2.5 crore) in a New Delhi-based parking technology startup Agile Parking Solutions.
Agile Parking Solutions, which is also known as Get My Parking, was founded by IIT Madras alumnus Chirag Jain and FMS Delhi alumnus Rasik Pansare.
The company aims to solve the rising parking problems and has created cloud-based mobile parking technology, making real-time parking information accessible for both supply and demand side.
The mobile app allows users to search, book and navigate the available parking space. The user gets a bird’s eye view of all the legal parking with map of locations, availability, pricing and other details, and gets assured parking with cashless payment and navigation.
Sudhir Rao of IndusAge Partners, who led the investment, said,
Automotive customers now seek real-time solutions and a triangulation of location, service aggregation, payments, and community shared feedback to delight their personal journeys with. Within eight months of commercial operations, they are at the cusp of servicing over a million transactions a month in the NCR region alone.
Chirag Jain of Agile Parking Solutions, said,
People are buying more vehicles today than ever before. The exponential rise in demand for parking space is crippling urban infrastructure and causing needless congestion. We believe only technology and data-driven solutions can solve this chronic problem with efficient use of existing parking space.
The company claimed its data centric approach will give insights into the urban transport landscape that can be utilised in better urban policy-making and efficient infrastructural use for smart cities.