Kolkata-based startup ParkoBot has raised ₹20.9 million in a seed funding round led by Inflection Point Ventures (IPV). Several high-net-worth individuals also participated. The company will use the fresh capital to boost infrastructure, expand into new markets, improve backend systems, and enhance its product portfolio.
Founded in 2023 by Amrit Choudhury, Raj Kumar Bihani, and Animesh Mukherjee, ParkoBot is not just another parking solution. The startup has introduced a disruptive model for managing urban parking—one that turns underutilised private parking spaces into monetisable assets. Its proprietary smart IoT-powered barrier system works in tandem with a user-friendly mobile application. The result is a secure, accessible, and rentable private parking spot, available for hourly booking. This approach positions ParkoBot as the “Airbnb for private parking.”
Solving a Daily Urban Nightmare
Every day, millions of Indian commuters struggle to find parking in overcrowded cities. Streets overflow with vehicles. Traditional parking lots remain either full or mismanaged. Private parking spots often sit unused during business hours or when owners are away. ParkoBot tackles this inefficiency head-on.
“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.”
By unlocking idle parking spots across residential complexes, commercial buildings, and private premises, ParkoBot provides a practical solution for commuters while generating passive income for property owners.
An End-to-End Technological Platform
ParkoBot has designed its entire tech stack in-house. This includes proprietary IoT devices that automate the entry and exit process and a mobile app that facilitates booking, payment, and navigation. Their barrier system prevents unauthorised access and ensures that the parking spot remains reserved and secure for the designated user.
The platform already facilitates more than 20,000 monthly bookings. ParkoBot’s smart infrastructure integrates automation, real-time tracking, and remote management. Its backend systems ensure minimal manual intervention, allowing it to scale efficiently across cities.
This focus on technology gives ParkoBot a competitive edge. While other startups in the parking space rely heavily on human operations or third-party hardware, ParkoBot owns and controls every element of its ecosystem. This integration translates into better user experience, higher uptime, and lower operational costs.
Backing from Strategic Investors
Inflection Point Ventures led the funding round with confidence in ParkoBot’s vision and execution. IPV Co-founder Mitesh Shah highlighted the significance of the investment: “Most cities are simply not designed for the number of vehicles they host today. ParkoBot is using technology to turn a fixed, underutilised asset into a dynamic revenue stream, solving a critical pain point while creating value.”
Shah’s comments underscore a larger urban problem. Indian cities experience growing vehicle populations with little room for infrastructure expansion. Traditional parking solutions—such as building more lots—fail to scale sustainably. ParkoBot’s asset-light model avoids the pitfalls of land acquisition or construction, instead optimising what already exists.
The participation of high-net-worth individuals in the seed round reflects the broader interest in mobility-tech and urban infrastructure innovation. These backers believe that ParkoBot’s scalable model can grow beyond Indian metros and penetrate global markets where parking chaos persists.
Market Opportunity and Growth Potential
India’s parking market stands at an estimated $9.5 billion and continues to grow. Rising vehicle ownership and poor city planning have created a persistent gap between demand and supply. Most parking spots in urban India lack automation, reservation systems, or dynamic pricing.
ParkoBot identifies this gap as an opportunity. By bringing private stakeholders into the ecosystem—residents, businesses, and institutions—it builds a decentralised parking network that adapts to demand. Commuters no longer need to circle blocks searching for a spot. They simply open the app, book a nearby space, and navigate to it.
The startup operates in stealth mode for now. However, it has already installed systems at several high-demand locations in Kolkata and other major Indian cities. Early data from these installations suggests strong repeat usage and positive user feedback.
ParkoBot now plans to target Tier 1 and Tier 2 cities where parking pressure continues to mount. Cities like Bengaluru, Mumbai, Hyderabad, and Pune represent key expansion targets. ParkoBot will deploy funds to scale its IoT device manufacturing, hire technical talent, and strike partnerships with housing societies, real estate developers, and municipal bodies.
Building a Micro-Economy Around Space
ParkoBot’s core vision involves more than parking. The founders envision a hyperlocal marketplace where people can monetise idle spaces—just like Airbnb turned spare rooms into economic assets. This “micro-economy of space” empowers ordinary citizens to generate side income while contributing to smoother traffic flow and reduced congestion.
“We believe the future of urban mobility doesn’t just depend on how we move—it depends on how we stop,” said Choudhury. “Smart parking is not a niche problem. It’s a foundational part of the urban experience.”
By aligning incentives for space owners, commuters, and city administrators, ParkoBot creates a self-sustaining ecosystem. Its model also supports environmental goals. Fewer cars idling while searching for parking results in reduced emissions, better fuel efficiency, and less urban noise pollution.
What’s Next for ParkoBot?
With the seed funding in place, ParkoBot will intensify its efforts to build on its early traction. The startup plans to:
- Expand to 10 new cities within 12 months
- Install over 5,000 new IoT barriers
- Onboard more than 50,000 private parking spaces
- Partner with RWAs, malls, tech parks, and institutions
- Launch enterprise features for corporate fleets and logistics vehicles
- Enhance its AI-powered recommendation engine for dynamic pricing and demand prediction
The startup also plans to roll out a “ParkoBot Partner Program,” allowing local entrepreneurs and parking operators to become franchise-style deployment agents. This initiative will further decentralise operations while ensuring last-mile coverage.
A Glimpse Into the Future
Urban parking remains one of India’s most frustrating logistical challenges. Municipal solutions often fall short, while private initiatives tend to lack scale. ParkoBot’s blend of hardware innovation, platform thinking, and decentralised monetisation offers a unique pathway.
As Indian cities continue to urbanise, ParkoBot stands at the crossroads of mobility, real estate, and digital transformation. If the company maintains its current trajectory, it may not only solve the parking crisis—it could redefine how India thinks about space.
By reimagining parking as a flexible, bookable, income-generating asset, ParkoBot has positioned itself as more than just a tech startup. It has become a systems-level solution provider for modern urban living. And with strong backing from investors like IPV, its journey has only just begun.
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