Parkobot, the world’s first “Airbnb for parking” platform powered by IoT-enabled smart parking space barriers, has raised ₹ 2.09 Crores in its seed funding round, led by Inflection Point Ventures (IPV), one of India’s leading angel investment platforms. The round also saw participation from High Net-Worth Individuals (HNIs). The funds will be used to expand infrastructure, tap into new markets, enhance backend capabilities, and diversify the product offering.
Launched with the vision of redefining urban mobility, Parkobot allows private parking space owners to monetize underutilized spots on an hourly basis, offering real-time, location-based bookings through an integrated mobile app. The platform uses its in-house technology stack, scalable IoT devices, and smart automation features to provide efficient parking solutions and generate additional revenue.
Mitesh Shah, Co-Founder of IPV, commented, “Urban parking remains a major challenge for cities worldwide, with poor planning leading to congestion, illegal parking, and road encroachment. Parkobot is solving this issue by integrating smart technology that not only makes parking more efficient but also opens up private parking spaces to the public.”
Parkobot operates in a rapidly growing market with a Total Addressable Market (TAM) of $114 billion globally, and $9.5 billion in India, expanding at a compound annual growth rate (CAGR) of 6.5%. While still in stealth mode, the company has already deployed smart parking systems at key high-traffic locations, laying the foundation for larger-scale operations.
Amrit Choudhury, Founder of Parkobot, shared, “Our goal is to reduce congestion on India’s streets by unlocking the potential of underused private parking spaces and turning them into profitable assets with our IoT-powered barriers and app. This is a step toward cleaner air, less traffic, and improved urban mobility for everyone.”
With over 20,000 bookings each month, Parkobot’s proprietary Parking Management System (PMS) utilizes smart boom barriers and pre-booking features to increase parking revenue and minimize manual operations. The company stands out globally as there are no direct competitors in the IoT-powered parking monetization space.
Founded by Amrit Choudhury, Raj Kumar Bihani, and Animesh Mukherjee, Parkobot aims to optimize parking availability and contribute to reducing urban congestion and environmental impact through its innovative platform. Inflection Point Ventures (IPV) is an angel investment platform with a network of over 24,000 CXOs, HNIs, and professionals who collectively invest in high-potential startups. IPV also manages the Physis Capital VC fund, with $50 million in capital to support startups from Pre-Series A to Series B stages.
