ParkMate: Revolutionizing parking solutions in India | Fusion - WeRIndia

In India, the struggle to find a parking spot has long been a nightmare for drivers, with the average search for a parking space in Delhi wasting up to 19 precious minutes.

The situation is even worse in cities like Mumbai and Bengaluru. However, a game-changing solution has emerged in the form of ParkMate, an innovative app-based autotech startup.

Founded in 2021 by Bharadwaj and Abhimanyu Singh, ParkMate has set out to redefine the parking experience for commuters.

The Moradabad-based startup launched its operations in May 2022 with a mission to make parking easier, more efficient, and eco-friendly.

ParkMate’s real-time parking solution is a game-changer. The app tracks parking availability and provides users with real-time data on parking status.

If one location is full, the app’s algorithm automatically extends the search to find parking beyond that location.

They’ve also introduced the Trishool system, which combines FASTtag+ANPR+UniPay technology to manage entry and exit using HD cameras.

The app eliminates the hassle of searching for parking. Users enter their destination, are met by a dedicated valet upon arrival, and can track their car’s live movement.

When they’re ready to leave, a tap on the app gets their car delivered back to them, with 360-degree images shared before and after delivery.

ParkMate ensures trust and safety by verifying attendants and providing extensive training. These include grooming, customer service, and crisis management.

With over 75,000 downloads and a 55% retention rate, ParkMate charges ₹49 in Tier I cities and ₹30 in Tier II cities.

They’ve witnessed steady growth, aiming to reach ₹4 crores in revenue by the end of FY23.

The startup currently operates in Lucknow and parts of Delhi and plans to expand to Mumbai soon. It competes with players like Secure Parking, ParkSmart etc.

ParkMate also offers parking solutions to hotels and malls, and custom insurance solutions. The startup recently launched a FASTag-enabled smart parking solution in partnership with the Uttar Pradesh government. In a short time, they’ve already parked over 3,000 cars in Lucknow.

India’s smart parking market is on the rise, projected to reach $593.63 million by 2028.

ParkMate aims to serve one million customers by the end of FY23 and introduce subscription plans for unlimited parking.

With its eyes set on expansion and becoming a go-to problem-solver in the parking industry, ParkMate is set to change the way India parks its vehicles, making life easier for millions of commuters.

Image Credit: Parkmate Website Screenshot

Image Reference: https://parkmate.in/