Smart parking start-up ParkMate raises undisclosed funding from We Founder Circle

• ByStartupStory     |    September 19, 2022

ParkMate, a start-up that makes smart parking solutions, has raised money through EvolveX, a global accelerator program run by We Founder Circle, a platform for investing in start-ups. The amount raised is undisclosed. WFC has teamed up with a number of “strategic angels” to help the new company deal with market challenges and gain an edge over competitors.

The company plans to use the money to hire more individuals and identify individuals who match a wide range of profiles. It also aims to use some of the new investment to improve the technological foundation of the solution.

Users of ParkMate’s parking solution can put in the information about the place they want to go, and when they get to the parking spot, a ParkMate employee will be there to help. The ParkMate attendant not only drives the client’s car to the closest parking zone but also parks it there.

The company has also put between $0.5 million and $2 million into startups in their early stages. WFC gives start-ups seed money, chances to grow their businesses, and access to a global network because it believes that these businesses need more than just money to grow and become stable. Since it began, it has put money into 56 businesses and allowed $12 million to be put into 33 new businesses.

Bhawna Bhatnagar, Co-founder of We Founder Circle affirmed that they were delighted to have invested in ParkMate, which has demonstrated the ability to solve the saturation problem of parking spaces due to disproportionate demand and supply. 

“Our technology and innovation are what we believe in, and now with WFCs guidance, we are sure to grow in the right direction, said, Dhananjaya Bharadwaj, Co-founder and CEO, ParkMate. 

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