Parkobot, an Airbnb for parking, raises Rs 2 crore led by Inflection Point Ventures, HNIs

Parkobot, which claims to be the world’s first “Airbnb for parking” powered by IoT smart parking space barrier, has raised Rs 2.09 crore in a seed funding round led by Inflection Point Ventures, a Gurugram-based angel investing platform. The round also saw participation from HNIs.

The startup plans to use the raised capital to expand infrastructure, reach additional markets, strengthen backend and increase product portfolio.

Parkobot was founded by Amrit Choudhury, Raj Kumar Bihani, and Animesh Mukherjee. It is an IoT-powered parking space barrier and digital platform that enables individuals to secure and monetise their private parking spots by renting them out on an hourly basis. By optimising parking availability, the startup actively reduces urban congestion and environmental impact.

“Urban parking is a huge challenge facing today’s cities. Poor planning and lack of proper parking spaces lead to encroachment on roads, illegal parking and congestion. However, Parkobot is driving the change by bringing in technology and smart parking systems that provide real-time availability of parking spaces and making underutilised private parking spaces available to the public,” said Mitesh Shah, Co-Founder, IPV.

“Parkobot envisions decongesting India’s streets by utilizing underutilized private parking spaces, transforming them into revenue-generating assets via our IoT-enabled Parkobot barrier & app. Our goal is to create cleaner skies, less traffic congestion, and seamless urban mobility for all,” Choudhury added.

Parkobo, which claims to have over 20,000 monthly bookings, leverages its proprietary Parking Management System (PMS), featuring smart boom barriers and exclusive pre-booking to boost parking revenue and reduce manual intervention.

The startup operates in a rapidly growing market, with a global Total Addressable Market (TAM) of $114 billion and an Indian TAM of $9.5 billion, expanding at a CAGR of 6.5%. Currently in stealth mode, it has already deployed high-traffic parking spots at key locations.