ParkMate, a revolutionary tech startup launched in 2021, is providing a much needed parking solution to India. This helps reduce the common problem of ‘parking anxiety’ faced by car owners. With the app-based service, users can locate and book parking spots quickly and conveniently. It offers a smart, hyperlocal, and on-demand approach which enables people to secure a parking space anywhere, anytime. This system eliminates the hassle of looking for availability and ensures that vehicles are safely parked in designated areas.
It all began when Dhananjaya Bharadwaj’s car was towed away from an authorised parking lot and got damaged in the process. This unfortunate incident sparked the idea of ParkMate between him and Abhimanyu Singh, who then became co-founders. The unfortunate incident brought to the forefront an issue that has been plaguing India for a long time – finding a place to park. According to an IBM survey, Delhi drivers end up wasting nearly 19 minutes in search of parking spaces and Mumbai and Bengaluru way worse. This emphasizes the need to have a better parking system in place.
ParkMate has been designed to help tackle this issue. It tracks parking availability obtains real-time data on the status of each space. If the current spot is occupied, the app’s algorithm expands its search radius and provides info on extra available spots in the area. The Trishool system is an integral part of this app. It allows you to scan vehicle license plates with HD cameras, an inbuilt controller, and its specialized software. This hybrid FASTtag+ANPR+UniPay enabled system also helps automate the process of logging and permitting vehicle entry quickly accurately. The startup has also created the Kavach System to be used in residential complexes and car dealerships.
ParkMate is the ultimate convenience for users. All they need to do is enter their destination, and they’ll be met by a verified attendant with their car in tow, as well as a GPS tag to monitor its live movements. This app makes parking effortless and secure. Through the app, customers can have their car delivered to them whenever they need it by simply tapping on “Get my car”. In addition, ParkMate provides 360-degree pictures of cars both before and after delivering them, ensuring full transparency in the process. ParkMate only works with well-trained attendants who have gone through an extensive 12-day training program. The program includes comprehensive modules on grooming, customer service, vehicle driving, application usage, crisis management legal basics.
Fostering trust was a major hurdle for ParkMate in the beginning. To allay such worries, the startup implemented various security layers and interlock systems into its application to ensure that cars were handled with care. This has made it much easier for car owners to have faith in their service. Integrating mapping technology was another obstacle that had to be tackled with the development of the valet application. This was necessary in order to help ParkMate’s valets easily identify and access nearby parking locations. To make ParkMate’s services more accessible to users, the founders had to contact parking operators, explain the advantages of using their software and organise various logistical solutions to help them maximize their workforce available parking bays.
ParkMate App has an impressive download figure of over 75,000 and is available for free on both Android and iOS devices. It charges a nominal fee of Rs 49 in Tier I cities Rs 30 in Tier II cities. Moreover, they offer multiple payment options like cash payments as well as 14 other modes of payments integrated into the app. By using their personal savings, the founders originally invested Rs 9 lakh to get the startup up and running. In recent times, they have seen a 1.5X expansion from quarter-to-quarter, and are on track to make Rs 4 crore in profits by the conclusion of fiscal year 2023.
ParkMate currently serves the cities of Lucknow and Delhi with areas such as Karol Bagh, Sarojini Nagar, Connaught Place being covered. The company plans to expand its reach to Mumbai in the near future. It has stiff competition from Secure Parking, Park+, ParkSmart, MyParkings.