# ParkSmart

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

- Industry: Internet
- Headquarters: New Delhi, India
- Website: www.park-smart.org
- Total disclosed funding: $0.2M
- Latest round: Seed (May 17, 2021)
- Investors on record: 3

## About

ParkSmart is dedicated to enhancing parking efficiency through innovative technology solutions that provide real-time data on parking availability, catering to municipalities and private operators.ParkSmart, founded in 2018 in New Delhi, India, focuses on smart parking solutions designed to alleviate urban parking challenges. The company was founded by a team including Prateek Garg, Rahul Gupta, Ratan Sethi, Rishabh Nagpal, Vishva Sharma, and Yash Gupta. In May 2021, ParkSmart raised INR 15.000 mn in a Seed round led by ah! Ventures with participation from Marwari Angels, bringing their total amount raised to INR 15.000 mn. The current CEO is Erik Ertzgaard, along with Rahul Gupta and Ramchurn Kumar.ParkSmart's primary offerings include advanced solutions aimed at enhancing parking management and efficiency. Their flagship product utilizes technology to deliver real-time information on parking availability, designed for municipalities, commercial property owners, and private parking operators. This technology is deployed strategically in metropolitan regions across North America and Europe, addressing urban parking congestion and improving user experience for drivers and businesses alike.In the most recent fiscal year 2023, ParkSmart reported a revenue of INR 342,547.1, with an EBITDA of INR -25,019.4. The revenue model is based on subscription services and partnerships, allowing clients to engage through annual contracts tailored to their operational needs. Pricing plans vary, with additional revenue generated from transactional fees associated with parking bookings via their platform.Following their latest funding round in May 2021, ParkSmart plans to utilize the resources to expand its geographical presence and hire additional staff. The company aims to enhance its product offerings and develop new solutions for the parking sector, although specific product launches or timelines have not been detailed. This expansion aligns with their vision to address parking management needs in emerging markets.

## Funding rounds

- Seed, May 17, 2021 — Campus Fund
- Seed, Jul 13, 2020, $0.2M — ah! Ventures, Marwari Angels

## Investors

- ah! Ventures (https://capitalatlas.ai/funds/ah-ventures) — Seed
- Marwari Angels — Seed
- Campus Fund — Seed