IoT based startup Get my parking has 70,000 transactions per day

IoT based startup Get my parking has 70,000 transactions per day

Parking is a major issue in India, especially in big cities. The process of finding a parking space is a genuine pain in the neck no matter where you are going, whether it is an office, a job, or a shopping mall. The present chasm between parking and mobility stakeholders wastes people’s time, fuel, and energy on parking issues.

Rasik Pansare and Chirag Jain developed and launched Get My Parking (GMP), an end-to-end IoT-based platform for smart parking, three years ago to bridge this gap and operate as a digital connecting platform.

Stakeholders may benefit from the startup’s superior parking analytics solutions, that are based in Delhi. Every day, it promises to complete over 70,000 transactions. Aside from making it easier for users to find, navigate, and reserve parking spaces, the platform has been working on a number of products that will be the next big thing in the parking sector.

GMP sells directly to parking operators and government agencies in charge of parking regulation and enforcement. The monthly licence charge is just how the site makes money. “We have been growing 20 per cent every month and aim to break-even by next financial year,” says Pansare.

GMP is backed by a group of investors that includes Indian Angel Networks, Chennai Angels, IndusAge Partners, and Sunil Munjal, among others. So far, the startup has raised around $4.5 million.

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