# ParkPlus

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/parkplus

- Industry: Software
- Headquarters: Gurgaon, India
- Website: www.parkplus.io
- Total disclosed funding: $36M
- Latest round: Series C (Dec 3, 2022)
- Investors on record: 7

## About

ParkPlus, based in India, provides innovative digital automotive services that enhance vehicle management and streamline parking experiences for users across metropolitan areas.Founded in 2019, ParkPlus operates from Gurgaon, India, specializing in smart parking solutions and vehicle management. The company was co-founded by Amit Lakhotia and Hitesh Gupta. ParkPlus has successfully completed 3 deals, with its most recent funding round occurring on December 3, 2022, when it raised INR 1.31 billion in Series C funding, led by Epiq Capital, with participation from Matrix Partners and Sequoia Capital. ParkPlus offers a comprehensive suite of digital automotive services aimed at improving vehicle management and parking experiences. Its core products include a Smart Parking Solution that allows for quick vehicle access and automatic transaction recording for efficient payments. The platform features real-time availability of parking spots and also provides services such as FASTag for toll payments, challan management, and car maintenance services, catering to personal vehicle owners, corporations, and residential complexes in major Indian cities including Delhi, Mumbai, and Bengaluru.For the most recent year, 2023, ParkPlus reported revenue of INR 11,937,563.90 with an EBITDA of -INR 12,540,996. The revenue is primarily generated through transaction fees from services like the FASTag system, parking reservations, and vehicle management solutions, which operate on a per-use basis or through subscription models for ongoing needs.In December 2022, ParkPlus raised INR 1.31 billion in Series C funding, which will be utilized for expanding its business reach and enhancing operations. The company is focused on launching new products designed to further streamline vehicle management and parking solutions. Additionally, ParkPlus plans to expand into new geographic markets, targeting urban centers not yet served by its solutions.

## Funding rounds

- Series C, Dec 3, 2022, $0M — Matrix Partners, Hong Shan, Epiq Capital
- Series B, Nov 24, 2021, $25M — Hong Shan, AdvantEdge Founders, Epiq Capital, Z47, Somani Investments, Motherson Lease Solution Limited
- Series A, Jan 22, 2020, $11M — Hong Shan, Z47

## Investors

- Hong Shan — Series A, Series B, Series C
- Z47 (https://capitalatlas.ai/funds/z47) — Series A, Series B
- AdvantEdge Founders (https://capitalatlas.ai/funds/advantedge-founders) — Series B
- Epiq Capital (https://capitalatlas.ai/funds/epiq-capital) — Series B, Series C
- Somani Investments (https://capitalatlas.ai/funds/somani-investments) — Series B
- Motherson Lease Solution Limited — Series B
- Matrix Partners (https://capitalatlas.ai/funds/matrix-partners) — Series C