Latest posts by TheStartupMojo (see all)
- Paytm Debit cards will now be delivered via App. Paytm to touch $14 Bn GMV - January 19, 2018
- Angel List started their Syndicates Platform in India - January 17, 2018
- Razor Pay raises $20 Mn as Series B from Tiger Global and Y Combinator - January 16, 2018
Get My Parking raised $3 Mn as Series A from Indian Angel Network and BEENEXT. The Startup is an IoT-based mobile parking platform which digitises parking space to give bird’s eye view of all the legal parking lots through their app and helps users to search, book and navigate to relevant parking across the city. As claimed by the official statement of the company “Get My Parking can connect and digitise any type of unorganised parking to make it go online and consumer facing, all within 10 minutes.”
The company was founded by Chirag Jain and Rasik Pansare. Speaking on the occasion and explaining how the app functions one of the founders Chirag said “Existing parking experience tends to take a big chunk of time and fuel; this is where Get My Parking delivers a hassle-free parking experience to every automobile owner. Our dedicated team works towards digitisation, integration, and automation of the parking industry while simultaneously catering to the global mobility trends.”
Speaking on the development Saurabh Srivastava, co-founder of IAN & Architect and Mentor of IAN Fund, said, “A truly ‘Made in India’ company, Get My Parking is set to revolutionise an untouched part of urban mobility – parking. With several smart city projects on board, Get My Parking is perfectly poised to leverage this huge opportunity with their sharp focus on execution.”
How does it work?
The company puts across an IoT device at prominent locations which are utilised at the time of parking cars in the cities. Now the IoT device send and relays information to the cloud server where it takes and send requests to the demand and supply end of its offering services i.e Users and Parking Contractors.
Its parking management system sends real-time availability to server which then reflects the information to motorists and car keepers through the mobile application. The parking management system is capable of integrating with parking contractor’s parking management system either with or without bay sensors.
Company’s future Roadmap
The company is looking to work in other countries to expand its operations at a scale which shall bring in the true purpose of making this technology as a worldwide success. In India, due to lack of Internet Penetration as well as unorganised allotment and allocation of Parking Areas to contractors, it becomes really difficult for the Startup to be able to reach its numbers.
Also the company looks forward to take leap through its cutting edge technology and would want to build the entry barrier as Scalibility in order to survive and lead in the coming years. The Startup already had its competitors which are bringing other variety and forms of offers through app to the same set of consumers, making it more difficult for the company to capture enough market share. Some of these Startups are ParkingWale, ParkingRhino, Secure Parking and ValetEZ.
Google Maps could be the new competitor
With the increased usage of Google Maps by the commuter, it becomes all the more relevant to Google to build in an aggregator services in the form of a product which has extremely less human intervention apart from the regular feeds (Like Business Services on Google from the Supply End) and shows parking areas available right at the tap on the Google Maps application. Google may further bring in Businesses which aggregates these data real time and thus can show multiple options to choose for a same parking space for users to park their cars.
In many conversations Google leadership has clearly warned the Startups to do not get into services which fall under the purview of aggregation, even at small scale and levels. Recenty Google has already launched its Taxi App Aggregation services along with its Hyperlocal Services App Aero.