May 02, 16.08 PM IST || Pocket News Alert
Chennai, 02/May/16
The Chennai Angels (TCA) today announced an investment of Rs. 2.5 crores in Agile Parking Solutions Private Limited (‘Get My Parking’), engaged in smart parking technology which digitizes parking industry.
“Automotive customers now seek real-time solutions and a triangulation of location, service aggregation, payments and community shared feedback to delight their personal journeys with. The GmP team is driving towards a platform to delight its customers. Within eight months of commercial operations, they are at the cusp of servicing over a million transactions a month in the NCR region alone”, said Mr. Sudhir Rao of IndusAge Partners who led the investment from The Chennai Angels.
“People are buying more vehicles today than ever before. The exponential rise in demand for parking space is crippling the urban infrastructure and causing needless congestion. We believe only technology and data driven solutions can solve this chronic problem with efficient use of existing parking space.” said Mr. Chirag Jain of Agile Parking Solutions Private Limited,
Agile Parking Solutions Private Limited, known by the brand name Get My Parking (GmP), is a New Delhi based StartUp founded by Chirag Jain and Rasik Pansare, who are alumnus of IIT Madras and FMS Delhi respectively. It is using an innovative approach to solve the rising parking problems and creates cloud based mobile parking technology which makes real time parking information accessible for both, the supply and demand side. A 25 member strong team, Get My Parking has already begun the parking revolution in our capital region and will soon change the way motorists drive and park in the majority of metropolitan area. Its mobile app empowers self-driving users to search, book and navigate to parking hassle-free. Now urban public doesn’t have to feel helpless while cruising around to find parking – they can simply access a bird’s eye view of all the legal parking lots with map locations, availability, pricing and other details and get assured parking with cashless payment and navigation. It saves the user time, fuel and energy and reduces urban traffic congestion and consequent pollution by up to 30%. Their data centric approach gives them insights into the urban transport landscape which can be utilized in better urban policy making and efficient infrastructural use for smart cities.
The Chennai Angels (TCA, www.thechennaiangels.com) is one of India’s most active angel investing groups. Founded in the year 2007, it is comprised of successful entrepreneurs and business leaders with a track record of starting and scaling large enterprises. Additionally, several seed and venture capital firms hold institutional membership in the group. Though it is located in Chennai, TCA’s investing members and portfolio investments are not limited by geography. Unusually for an angel investing group, TCA has a diversified portfolio that goes well beyond a restrictive tech focus, reflecting the diversity of its members’ interests. TCA portfolio companies benefit from the collective expertise and rolodex of its members.