Park+ provides parking businesses with intelligent management of parking systems. They offer services such as fleet administration, computerized door entrances, ANPR solutions, RFID parking technological advances, parking assistance systems, FASTag-based parking, wrongful parking detection, and others.
Park+ enables parking options for businesses, residences, and parking the owners, among others.
Park+ is a Gurugram-based firm that is currently offering services from car washing to parking at residences, shopping centers, and offices, settling fines, policy purchase and extension, and automobile upkeep and repair, among other offerings.Park+ makes it possible for users to utilize a single RFID tag throughout both office and home parking lots, eliminating the requirement for additional tags to be installed.
About Park-
Park+ is the creator of an engaging parking application aimed at digitizing the system for parking vehicles.
With the help of the business’s smartphone application, customers now have an additional choice to make payments for parking electronically while maintaining a record of their parked sessions to prevent parking referencing.
Customers can also be directed to the closest accessible parking lot near their desired destination.
Park+ runs in more than twenty-five locations throughout India and handles almost everything for car drivers.
Park+ can handle all of the regular problems that automobile owners have, whether it is locating a parking place, doing auto repair, or monitoring and settling challans.
Park+ enables essential providers of services like auto OEMs, automobile insurance, follow-up repair and maintenance providers, dealerships, and financial institutions to provide services to end customers effortlessly.
Park+ aims to be the biggest electric vehicle (EV) charging installation in India and was recently named one of Forbes Asia’s Top 50 Startups in India in 2022. stated by the business, the average client uses the Park+ application approximately 4-5 times per month.
| Name Of The Company | Park+ |
| Founded Year | 2019 |
| Founders Of The Year | Amit Lakhotia Kumar |
| Competitors Of The Company | Flashparking, Metropolis, Parkhub, T2 Systems |
| Website Of The Company | Www.Parkplus.Io |
| Country Of Origin | Gurgaon, India |
| Investors Of The Company | 44 |
| Space Of The Company | B2c |
Park+Name And Logo–
Park+ Founder–
The founder of Park+ is Amit Lakhotia.
Amit Lakhotia completed his bachelor’s in computers in 2004 from the Netaji subhas institute of Technology.
After his bachelor’s, he went to the Indian Institute of Management, Ahmedabad, where he completed his MBA in 2007.
He worked as an engineer at UTstar.com, product manager and business head – B2B at Makemytrip, vice president – of business at Paytm, and vice president- of business at Tokopedia.
Other than Park+, he was the director and co-founder of Getmycab.com
Lastly, Amit was also an Angel investor of bharatpe from 2018 to 2021.
Park+ Products–
The companies various products for both businesses as well as for individual customers.
Products for businesses are –
EV charging solution –
The Park+ e-mobility project assists businesses such as charging outlet providers and fleet operators in setting up charging facilities for electric vehicles in India at consumption areas.
The company’s EV-ready infrastructure is dispersed among accommodations, shopping centers, and workplaces, providing drivers of electric vehicles with an easy journey.
Valet parking services –
Park+ parking service offers consumers to get their automobiles parked and fetched by an experienced attendant. It is a quick and easy option to park the car in because clients won’t have to look for a space or stand in a queue to pay for space.
Products for customers are-
Parking-
Park+ offers parking assistance in the following ways:
- reduces timeframe
- Security
- Possible cashless payments
- intelligent parking
FASTag –
Park+ has partnered with IDFC Bank to create India’s original all-in-one, low-cost FASTag. Park+ FASTag is one wireless identification device that serves many purposes and clears the car’s windscreen of clutter.
At HPCL gas stations, societies & corporation entrances, NHAI Toll plazas, and several car parks around the nation, Park+ FASTag facilitates a stopping drive-thru. Users can purchase and renew FASTag via the Internet through Park+.
Car wash-
park+ provides excellent services with car wash, like-
- No contact booking
- Eco-friendly car washing
- Use of only microfiber clothing
- Polishing of cars
- Cleaning from inside
- Regular updates regarding the car washing process.
Challan –
The Park+ app allows users to pay for traffic e-challans and check their progress digitally. Given that it is simpler, more accessible, and effortlessly.
Insurance –
Park+ helps in understanding the clients about different insurance plans and coverages.
Park+ Investors–
Park+ has 44 investors in total out of which the company has raised 52.8 million dollars over 5 rounds of funding.
Some prominent investors of Park+ are-
Advant Edge –
AdvantEdge Founders is a startup investment firm that invests in enthusiastic founders and firms with significant potential for development. The company support entrepreneurs by giving them money, necessary equipment, assets, and expertise as they embark on a mission to develop into innovators in the industries they work in.
AdvantEdge has invested in companies that include Rapido, Chalo, Zingbus, Exponent Energy, Sheru, Grip Invest, Nakad, Krab, Jar, Shuttl, Electorq Tripoto, and many more.
Eqip Capital-
Epiq Capital is a leading development and advanced technology firm that invests up to twenty-five million dollars in Indian technology and technology-enabled businesses. The company participates in both primary as well as secondary markets.
Equip Capital makes investments in outstanding businesspeople who are creating the following Technology Nifty50.
Matrix Partners India-
Matrix Partners India is a capital-raising business focused on the Indian business and consumer segments at the beginning, early, and preliminary growth phases.
The company specializes in innovators throughout industries and is particularly dedicated to assisting in the creation of businesses that change the world.
Park+ Competitors-
Flash Parking–
Flash Parking is a tool that provides parking management solutions via SaaS.
It provides a hardware-based and software-enabled parking administration system.
It includes hardware for parking spaces, such as kiosks, barriers, and payment machines. Additionally, it provides a cloud-enabled parking control infrastructure with tools for integration oversight, managing revenue, etc.
Additionally, it provides touch-free payment options and parking connections including LPR, AVI, and digital billboards.
The company was founded in 2011 in Austin, united states.
Metropolis-
Metropolis is an AI-powered system that provides complete parking administration services.
The platform provides full managing parking approaches, including logistics and statistics.
It provides a range of solutions, including those for managing operations, settlements, advertising, customer-focused mobile apps, data analysis, and others.
It has attributes like simple connections, improved management of operations, and others.
The company was founded in 2017 in Los Angeles, united states.
The company has raised a total funding of 333 million dollars to date.
Parkhub –
Parkhub is a company that offers complete parking management services.
It provides a hardware- and software-enabled park administration platform with options for integrating third parties and custom-built systems. It provides parking spots, parking options for institutions, etc.
The company was founded in 2010 in Dallas, United States.
The company has raised a total of 15.6 million dollars to date.
FAQs About Park+-
When was Park+ founded?
The company Park+ was founded in 2019.
Where was Park+ founded?
The company Park+ was founded in Gurgaon, india.
How much funding has Park+ raised?
The company Park+ has raised a total of 52.8 million dollars.
When was the latest round of Park+ and how much?
The latest funding round of the company Park+ is 17.2 million dollars on December 2, 2022.
What is the total valuation of Park+?
The total valuation of the company park+ is 340 million dollars.
In what space does Park+ serve?
The company park+ serves in the B2C space.
In what market segment does Park+ serve?
The company serve in travel and hospitality tech, auto tech, transportation and logistics tech.
Who are the competitors of Park+?
The competitors of the company Park+ are flash parking, metropolis, park hub and T2 systems.
Who is the board of directors of Park+?
The board of directors of Park+ are Amit Kumar and Sarita lakhotia.
Who is the CEO of Park+?
The CEO of the company is Amit Kumar.
Conclusion–
Park+ has built a network of services for car owners that will serve as a centralised location for all of their requirements. In addition to assisting drivers in finding parking, Park+ also allows users to pick out any empty spaces they may have. The solution applies to both four-wheel-drive and motorbikes.
The Park+ system requires the installation of a reader with an RFID chip at the entrance to the parking area, and additional layers can be chosen, including an intersection light-style indicator or even a barricade.
Currently, commercial compounds, housing developments, and hotels/shopping centres are the customers of Park+.
Park+ earns revenue depending on the number of entrances and cars an individual has. Particularly for Park+, commercial office buildings represent a viable market.
Park+ offers a lot of features, including parking reservations, challan settlements, FASTag charge, RTO-related knowledge, actual time gasoline price information, and searching for the closest PUC centre.
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