Amidst the rising vehicle sales in India, users are facing parking woes in Metro and Tier 1 cities like Delhi-NCR, Mumbai, Bengaluru among others. To reduce these parking problems and decongest the cities, Auto Tech startups for Parking Solutions like ParkMate is offering Smart Parking Solution for a seamless parking experience to the user and businesses. With ParkMate application, users never have to search for or even visit a parking.
So what exactly this technology solves and how can it benefit the car and bike users in India? We recently had a conversation with Abhimanyu Singh, Co-Founder and COO of ParkMate, to understand about ParkMate and its parking solutions for India.
Tell us about ParkMate and its business operations in India
As India’s leading intelligent app-based platform, ParkMate addresses the pressing issue of parking congestion in the auto tech industry by providing smart, hyperlocal, and on-demand parking solutions for users and businesses alike. Our mission revolves around solving the pervasive challenge of locating convenient, safe, and reliable parking spaces in densely populated areas, ultimately mitigating traffic congestion, economic losses, and time wastage for users.
Through our innovative “Drop & Shop” service, users can effortlessly secure real-time confirmed parking at their preferred destination using the ParkMate app, eliminating the hassle of endlessly circling blocks in search of parking spots.
Our dedicated valets, each OTP verified for enhanced trust and security, ensure the secure parking of users’ vehicles. With GPS tagging enabling live tracking of their car’s movement, users enjoy heightened transparency and peace of mind throughout the process.
Available on both Android and iOS platforms, our app has garnered over 75,000 downloads and maintains an impressive 55% user retention rate, offering budget-friendly pricing starting at Rs 49 in Tier I cities and Rs 30 in Tier II cities. Backed by an initial investment of Rs 9 lakh and subsequent undisclosed funding rounds, ParkMate is experiencing remarkable growth, currently serving 11 malls and 07 major markets across India.
How does the ParkMate system work?
ParkMate’s technology, founded on the MERN Stack and our three-tier Trishool system, seamlessly integrates FASTag, ANPR (Automatic Number Plate Recognition), and UniPay systems. Using HD cameras, an integrated controller, and our proprietary software, the system automatically scans license plates and records vehicle entries.
Through our app, users can book our instant “Drop & Shop” service by inputting their destination. Upon arrival, our dedicated valet handles parking and ensures car security. Our attendants are OTP verified, and our GPS tagging system enables users to track their car’s real-time movements.
Retrieving the vehicle is as easy as tapping the “Get my car” button. Operating on a hyperlocal level, ParkMate guarantees that each car is parked exclusively in secure and authorized lots. Additionally, we enhance transparency by sharing comprehensive 360-degree images of vehicles before and after delivery with our users, reinforcing trust and reliability.
What makes ParkMate an essential service?
ParkMate’s innovative parking solutions address critical issues prevalent in major Indian cities, where annual economic losses due to traffic congestion amount to a staggering Rs 1.44 lakh crore. The evident disparity in parking utilization, with some lots oversubscribed while others remain less than 50% occupied, exacerbates the problem.
According to an IBM survey, drivers in Delhi spend up to 19 minutes searching for parking spaces, highlighting the urgency of the situation. In response, ParkMate offers instant, guaranteed, and safe parking services through our app, saving users valuable time and reducing traffic congestion. By providing a seamless and hassle-free parking experience, ParkMate stands out as a transformative solution in contrast to traditional parking methods.
To illustrate our effectiveness, let’s examine the case in areas like Hazratganj, Lucknow, and Chandni Chowk, Delhi. Previously, drivers in these bustling locales spent approximately 20 to 40 minutes manoeuvring through complex parking processes before even reaching their destinations.
However, with ParkMate’s intervention, we’ve dramatically reduced this time to less than a minute. Remarkably, within just a month of launching our services, we successfully parked over 3000 cars in Hazratganj alone. These statistics highlight the profound impact of our approach in simplifying and streamlining the parking experience for both drivers and overall traffic management.
What’s the expansion plan of ParkMate?
Currently serving 11 malls and 07 major markets, including Delhi NCR, Karol Bagh market, Hazratganj market Lucknow, and Gaur City, our immediate plan is to establish a widespread footprint in key urban centres such as Mumbai, Pune, Ahmedabad, Bangalore, Mangalore, and Hyderabad.
Our vision is to become a go-to parking solution nationwide, serving diverse communities and addressing parking challenges in bustling cities. Beyond India, ParkMate is poised to take its seamless parking solutions to over 150 cities worldwide by the close of 2026, aiming to make a positive impact on urban mobility on a global scale.
Tell us about your collaborations with malls in India
Our tie-ups with malls in the cities where we operate have been instrumental in expanding ParkMate’s footprint and providing seamless parking solutions to customers. By collaborating with prominent malls, we ensure that users can access our services conveniently while enjoying their shopping or leisure experiences.
These collaborations involve integrating our parking solutions into the existing infrastructure of the malls, allowing users to book parking in advance through the ParkMate app. Our goal is to optimize parking space utilization, reduce congestion, and enhance the overall customer experience at malls by offering efficient and reliable parking solutions.
We are continually seeking to forge new partnerships with distinguished malls across India, aiming to simplify the parking process and provide unmatched convenience for our users.