Tuesday, 3 May 2016

Chennai Angels to invest Rs 2.5 crores in Agile Parking Solutions

The Chennai Angels today announced an investment of Rs 2.5 crores in smart parking technology startup Agile Parking Solutions (Get My Parking). 

The New Delhi based StartUp founded by Chirag Jain and Rasik Pansare aims to solve the rising parking problems and has created cloud based mobile parking technology making real time parking information accessible for both supply and demand side. 

"Automotive customers now seek real-time solutions and a triangulation of location, service aggregation, payments and community shared feedback to delight their personal journeys with. The GMP team is driving towards a platform to delight its customers," said Sudhir Rao of IndusAge Partners who led the investment. "Within eight months of commercial operations, they are at the cusp of servicing over a million transactions a month in the NCR region alone", he pointed out. 

The mobile app allows users to search, book and navigate to parking saving them the trouble of driving around in search of space. The user gets a bird's eye view of all the legal parking lots with map of locations, availability, pricing and other details and gets assured parking with cashless payment and navigation. 

"The exponential rise in demand for parking space is crippling the urban infrastructure and causing needless congestion. We believe only technology and data driven solutions can solve this chronic problem with efficient use of existing parking space," said Chirag Jain, cofounder of the company. 

With a 25 member team the startup follows a data-centric approach that could help in giving better insights into urban traffic landscape. By saving time, fuel and energy, the technology is believed to help reduce urban traffic congestion and consequent pollution by up to 30%.

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