Parkobot, a Kolkata-based startup that operates an IoT-enabled parking platform, has raised ₹2.09 crore in seed funding led by Inflection Point Ventures. The round included participation from high net worth individuals.
The company positions itself as the world's first "Airbnb for private parking," allowing property owners to monetize unused parking spaces on an hourly basis through an IoT-enabled barrier system integrated with a mobile application. The platform currently processes over 20,000 bookings per month.
Parkobot was founded by Amrit Choudhury, Raj Kumar Bihani, and Animesh Mukherjee. The startup operates through a proprietary Parking Management System that features smart boom barriers and booking functionality designed to reduce manual intervention in parking operations.
The funds will support infrastructure expansion, market entry into new locations, backend operations enhancement, and product portfolio diversification. The company is currently operating in stealth mode while deploying parking solutions at high-traffic locations.
According to the company, the global parking market represents a total addressable market of $114 billion, with the Indian market valued at $9.5 billion and growing at a compound annual growth rate of 6.5 percent.
Mitesh Shah, Co-Founder of Inflection Point Ventures, stated that urban parking challenges including poor planning and inadequate parking spaces contribute to road encroachment and traffic congestion. He noted that Parkobot's technology-driven approach addresses these issues by making underutilized private parking spaces accessible to the public.
Amrit Choudhury, Founder of Parkobot, said the company aims to reduce street congestion by converting underutilized private parking spaces into revenue-generating assets through their IoT-enabled system.
Inflection Point Ventures operates as an angel investing platform with over 24,000 CXOs, HNIs, and professionals. The firm has invested over ₹800 crore across more than 220 startups. IPV has also launched Physis Capital, a ₹50 million Category 2 VC fund focused on Pre-Series A to Series B stage companies.