ParkMate, a startup providing smart parking solutions, has raised undisclosed funding through EvolveX, a global accelerator programme by the startup investment platform We Founder Circle.

We Founder Circle has joined hands with several strategic angel investors to help the parking solution provider rise to market challenges while gaining a competitive advantage over competitors.

As per the startup, the raised funds will be used to hire more employees and hire talent that fits a variety of profiles. Additionally, the startup plans to use a portion of the new investment to strengthen the solution’s technological foundation.

ParkMate | Smart Parking Solutions

ParkMate provides smart parking solutions and gives a seamless parking experience to the user and businesses. 

Speaking about the development, Dhananjaya Bharadwaj, Co-founder and CEO of ParkMate, said,

“The ParkMate team and subscribers are thrilled to have WFC as a strategic investing partner. Our technology and innovation are what we believe in, and now with WFCs guidance, we are sure to grow in the right direction. We are confident that this investment will pay off and contribute to our mission and help us scale quickly.”

Users of the ParkMate app can input the destination credentials they wish to visit. And when they arrive at the parking location, a dedicated parking attendant from ParkMate would be there to provide assistance. The ParkMate attendant not only drives the client’s vehicle to the closest parking space but also parks it there.

Commenting on the development, Bhawna Bhatnagar, Co-founder of We Founder Circle, said,

“Most Indian cities have unmanaged and haphazard parking, forcing citizens to park any type of vehicle in any location and in any direction. With ParkMate’s solutions, the parking system can be altered in a significant way, providing considerable benefits to society. At WFC, we promise to assist the startup in all phases of development, including business strategy, community building and connecting with skilled business mentors.” 

We Founder Circle is a global platform of founders for founders, helping startups with business, community & funding. Since its inception, the platform has invested in 56 firms and allowed investments worth $12 million across 33 startup deals.

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