Predict your next investment

Angel Investor (Individual)

See what CB Insights has to offer

Investments

12

About Amit Lakhotia

Amit Lakhotia Headquarter Location

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Amit Lakhotia News

Parking Solutions Startup Park+ Raises $25 Mn; To Introduce Car-Related Financial Services

Nov 24, 2021

Co-led by Sequoia Capital India, Matrix Partners India and Epiq Capital, the Series B round also saw the participation of AdvantEdge, Fund II and Motherson Lease Solution, valuing Park+ at roughly $160 Mn The startup plans to use the funds to increase use-cases on its app, hire for operations, introduce financial services such as car loans and insurance, as well as expand to 25 new geographies in India by FY22, and launch in Dubai and Singapore by CY23 Founded in 2019 by ex-Paytm VP Amit Lakhotia, Park+ helps car owners struggling with car parking, FASTag management, challans, car washing, and car insurance Bengaluru-based Park+ which lets consumers book parking spots around cities, and offers auxiliary car-related services, has announced raising $25 Mn in funding co-led by Sequoia Capital India, Matrix Partners India and Epiq Capital. The Series B round also saw the participation of AdvantEdge, Fund II and Motherson Lease Solution, valuing Park+ at roughly $160 Mn. The startup plans to use the funds to increase use-cases on its app, hire for operations, introduce financial services such as car loans and insurance, as well as expand to 25 new geographies by FY22. It is also planning to launch in Dubai and Singapore by CY23. Founded in 2019 by ex-Paytm VP Amit Lakhotia, Park+ helps car owners struggling with car parking, FASTag management, challans, car washing, car insurance with a comprehensive ecosystem. Its solutions are currently deployed in six Indian cities including Bengaluru, Mumbai, Delhi NCR. However, Park+ now plans to expand its footprint across 25 cities in the next three months. To date, Park+ has raised approx $37 Mn in funding , including this round from marquee investors and industry stalwarts including MMT’s Deep Kalra, BigTree’s Ashish Hemrajani, CRED’s Kunal Shah, and Snapdeal’s Kunal Bahl and Rohit Bansal. It has deployed its solutions across 3K societies, 30 malls and 150 corporate buildings to allow users to find parking. In addition to its partnerships with societies and corporations, the company also offers users over 90,000 booking slots on its app. Park+ real estate partners include Blackstone, Brookfield and Mindspace, allowing users to park on their properties. Its client base also includes Airtel’s head office in Gurugram, the Bandra-Kurla Complex, Mumbai, Select City Walk Saket, Delhi, Pacific Malls, among others. Its partnerships with IDFC, Acko, BookMyShow, DineOut, MyGate, CarDekho, Spinny, among others, is to offer consumer experience across touchpoints in the four-wheeler ecosystem. Currently, Park+ claims to have approximately 6% of cars registered on its platform. With this funding. It is planning to scale that number to 15% in the next three quarters with aggressive geographical expansion According to MarketsandMarkets report , the automated parking systems market reached a value of $1.3 Bn in 2019 and was projected to grow at a compound annual growth rate (CAGR) of 13.1% from 2019 to 2027 to $3.6 Bn. Apart from Park+, startups in the space include Get My Parking, ParkingRhino among others.

Amit Lakhotia Investments

12 Investments

Amit Lakhotia has made 12 investments. Their latest investment was in GoKwik as part of their Seed VC on September 9, 2021.

CBI Logo

Amit Lakhotia Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/7/2021

Seed VC

GoKwik

$5.5M

Yes

4

7/29/2021

Angel - II

Fixcraft

Yes

2

7/1/2021

Seed VC

TyrePlex

Yes

2

4/2/2021

Angel

Subscribe to see more

$99M

Subscribe to see more

10

8/17/2020

Seed VC - II

Subscribe to see more

$99M

Subscribe to see more

10

Date

9/7/2021

7/29/2021

7/1/2021

4/2/2021

8/17/2020

Round

Seed VC

Angel - II

Seed VC

Angel

Seed VC - II

Company

GoKwik

Fixcraft

TyrePlex

Subscribe to see more

Subscribe to see more

Amount

$5.5M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

4

2

2

10

10

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.