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Smart parking solutions provider ParkMate raises $1.2 million in funding led by Cactus Partners

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Jaya Vishwakarma
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ParkMate co-founders Abhimanyu Singh and Dhananjaya Bharadwaj

ParkMate co-founders Abhimanyu Singh and Dhananjaya Bharadwaj

Smart parking solutions provider ParkMate has raised $ 1.2 million in a funding round led by Cactus Partners, an early growth-stage venture fund.

Existing investors like Venture Catalysts and the Marwah Group Family Office were also part of the funding round.

The startup plans to use the raised capital to expand its operations, boost its business development team, and accelerate innovation in its cutting-edge parking solutions.

Focused on transforming the parking experience

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Founded by Abhimanyu Singh and Dhananjaya Bharadwaj, ParkMate is at the forefront of transforming the parking experience with its state-of-the-art technology.

The startup's flagship service, DaSH (Drop & Shop), offers guaranteed parking at any location like shopping malls, office complexes, and entertainment hubs. 

Serving industry giants

ParkMate claims that it serves industry giants such as DLF, Phoenix Malls, Indian Army, Ansals API, Unitech Group, Shalby Group, and M3M. It also has strategic partnerships with the Uttar Pradesh and Telangana governments. 

“So far, we have been passively building our tech and business to achieve an established and stable position in the market. With this funding round, we are going to go aggressively in expanding our services to new territories while strengthening our position in the existing markets. With partners like Cactus partners, MeITY, VCats and Amity, Marwah group, along with the support of our existing investors like WFC and Bajaj VC, we are going to redefine the parking industry soon,” said Dhananjaya Bharadwaj, co-founder of ParkMate.

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