Turning empty parking spots into cash, the Kolkata startup secures ₹20.9 million to reshape urban mobility with IoT-powered barriers and app-based, hourly private parking rentals.
Kolkata-based smart parking startup ParkoBot has raised ₹20.9 million in a seed funding round led by Inflection Point Ventures (IPV), with additional support from high-net-worth individuals. The funds will be used to expand infrastructure, enter new markets, improve backend systems, and enhance the product portfolio.
Parkobot is pioneering an innovative approach to urban parking by allowing users to monetise unused private parking spaces through a smart IoT-powered barrier system integrated with a mobile app. This “Airbnb for private parking” enables hourly bookings of secure spaces and aims to reduce congestion in India’s cities.
“We are solving a problem that urban dwellers face every single day; finding a parking spot that’s accessible, reliable, and secure,” said Amrit Choudhury, Co-founder and CEO of ParkoBot. “Our goal is to transform how India thinks about private parking. We are not just offering convenience; we are creating a new micro-economy around space,” he said.
Established in 2023, by Amrit Choudhury, Raj Kumar Bihani, and Animesh Mukherjee, and now with over 20,000 monthly bookings already on the platform, ParkoBot is showing early signs of traction. Its tech stack, including proprietary IoT devices and automation tools, is fully developed in-house and designed to scale rapidly across regions.
“Most cities are simply not designed for the number of vehicles they host today,” said Mitesh Shah, Co-founder of IPV. “ParkoBot is using technology to turn a fixed, underutilised asset into a dynamic revenue stream, solving a critical pain point while creating value.”
The startup stated that it is currently operating in stealth mode but has already installed its systems at key locations with high parking demand. With India’s parking market estimated at $9.5 billion and growing, the ParkoBot sees significant room to scale.
