Park+ Gets $25 Million From Sequoia, Matrix, Epiq And Others
11/24/21, 4:59 AM
Location
Money raised
$25 million
Mumbai: Park+, an app for car users, has raised $25 million in a Series B funding round co-led by Sequoia Capital India, Matrix Partners India and Epiq Capital.
Company Info
Location
mumbai, maharashtra, india
Additional Info
With this capital infusion, the company is planning to scale its market share of cars from 6% to 15% in the next three quarters along with geographical expansion. INWhile the company started operations by providing parking services, it has widened its offerings after the Covid-19 pandemic. The startup has 800 employees, of which 50% are in sales and operations. Founded in 2019 by Amit Lakhotia, Park+ is an ecosystem that solves the daily challenges faced by car owners ranging from parking, FASTag management, car insurance, automated vehicle access control systems in malls, corporate parks and residential apartments.