Parking tech startup Parkobot has raised ₹2.09 crore in a seed funding round led by Inflection Point Ventures (IPV), along with participation from several high-net-worth individuals. The company plans to use the funds to strengthen its infrastructure, enter new markets, improve backend operations, and expand its product portfolio.
Founded to tackle urban parking challenges, Parkobot has introduced what it calls the world’s first ‘Airbnb for private parking’. The platform leverages an IoT-enabled parking barrier integrated with the Parkobot mobile app, enabling users to book and access private parking spaces on an hourly basis.
Built on an in-house tech stack with scalable IoT infrastructure, Parkobot currently processes over 20,000 bookings each month, providing an efficient digital solution for utilizing underused parking spaces.
The parking tech startup’s core technology emphasizes automation to boost operational efficiency and enhance user experience, offering real-time availability and secure access to private parking spots.
Commenting on the investment, Mitesh Shah, Co-founder of Inflection Point Ventures, said, “Urban parking is a significant issue in many cities. Parkobot is using technology to help make underutilised private parking spaces more accessible, offering a potential solution to some of the congestion and inefficiency challenges in urban mobility.”
With the latest funding, Parkobot plans to enhance its backend systems, expand into more urban markets, and continue developing its product portfolio to address the evolving needs of modern mobility. Meanwhile, Inflection Point Ventures has already invested over ₹800 crore in more than 220 startups, reinforcing its commitment to supporting early-stage innovation across diverse sectors.
Parkobot’s model highlights the rising demand for smart infrastructure and shared economy solutions, especially as cities look for innovative ways to optimize resources and improve everyday convenience for residents.
