Team Startupcity

·  Rs 2.09 Cr seed round led by Inflection Point Ventures and HNIs

·  IoT-powered parking platform enabling hourly rentals of private spots

·  20K+ monthly bookings aimed at reducing urban congestion and boosting revenue

Parkobot, a path-breaking startup that positions itself as the world's first "Airbnb for parking," has raised Rs 2.09 crore in seed funding round led by Gurugram-based Inflection Point Ventures (IPV) with participation from various high-net-worth individuals (HNIs).

Established by Amrit Choudhury, Raj Kumar Bihani, and Animesh Mukherjee, Parkobot utilizes IoT-enabled smart parking barriers and a web platform through which one can rent out his/her personal parking space on an hourly basis. The product not only optimizes idle parking spaces but also addresses urban traffic and lessens the carbon footprint.

"Parking in urban areas is one of the most pressing issues in Indian cities. Due to the lack of planned areas, we are struggling with rampant encroachment, unauthorized parking, and traffic congestion. Parkobot is solving this problem using real-time, technology-driven parking solutions," said Mitesh Shah, Co-Founder, Inflection Point Ventures.

With more than 20,000 monthly bookings already, Parkobot's own Parking Management System (PMS), which includes intelligent boom barriers and in-house pre-booking features, hopes to optimize parking efficiency and reduce human intervention. The new capital will be utilized to augment infrastructure, expand into new geographies, improve backend systems, and diversify the product range.

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Our vision is to turn underused parking spaces into revenue-generating assets through IoT-powered Parkobot barriers and a simple app," added co-founder Amrit Choudhury. "By alleviating congestion, we dream of cleaner skies and more efficient urban mobility for everyone.

Operating in stealth mode now, Parkobot has begun rolling out its tech in high-traffic areas. With a global Total Addressable Market (TAM) of $114 billion and Indian TAM of $9.5 billion both expanding at a CAGR of 6.5% the startup is set to redefine urban parking infrastructure.