IoT enabled end-to-end digital platform for digitizing parking spaces, GetMYParking raised US$ 6 million in a fundraise led by IvyCap Ventures. IAN Fund, an existing investor, also participated in the funding round.
Kochhar & Co. represented GetMYParking. The team was led by Sarika Raichur (Partner) and supported by Sidhartha Jatar (Senior Associate).
Stratage Law Partners represented Ivy Cap Ventures (a Mumbai-based Venture Capital Firm).
Samvad Partners advised and represented one of the existing investors.
The venture is expected to soon establish presence in the US where it is already working in partnership with some of the largest parking operators. The present funding is expected to support the venture’s efforts in this direction.
The venture has so far digitized more than 3000 parking lots across Europe, US and India. It also operates ‘GMP Permit’ which is an online parking permit management platform for operators to digitize their parking permit business while enabling their consumers to purchase and manage their parking permits digitally.