Park +, Super application for car users, on Wednesday said it has collected around USD 25 million (around RS 186 Crore) in funding, led by Indian Sequoia Capital, Indian Matrix partners and capital EPIQ.

Existing and new investors, including advantages, Fund II – a series of investments in Somani LP and Motherson Lease Solution Limited, also participated in the B Bonde series, said a statement.

Park + plans to take advantage of funds to strengthen the intimate technology and build innovative solutions for cars and car owners who can complete all their pain points on one platform, he added.

The company also sees aggressive geographical expansion, and in driving a deeper consumer adoption of various services on the application by investing in the overall ecosystem for car owners.

Park + previously collected USD 11 million in the funding series led by Sequoia Capital India and Indian Matrix partners. Angel Investors such as Ashish Hemrajani (Bookmyshow), Deep Kalra (Makemytrip), Kunal Shah (KRED), Ashneer Grover (Bharatpe) and Kunal Bahl (Snapdeal) have also participated in advance. Angel Investors such as Ashish Hemrajani (Bookmyshow), Deep Kalra (Makemytrip), Kunal Shah (KRED), Ashneer Grover (Bharatpe) and Kunal Bahl (Snapdeal) have also participated in advance.

Post Covid, there is a strong shift from public transportation and shared mobility, with increasing preferences for private vehicles, parking + founder and CEO Amit Lakhotia.

“Park + is committed to revolutionizing how car-related services are offered and managed in India. Continuous trust in our investors will help us strengthen our expansion plans, rent and spread the skilled operational team and build strong offers on our existing services, provide Experience 360 ​​degrees for car owners throughout the country, “he added.

Founded by Amit Lakhotia, Park + is a one-stop ecosystem that completes the daily challenges faced by car owners starting from parking, Fastag management, car insurance, to advanced vehicle access control systems and automatic in malls, garden companies, and residential apartments.

Park + has established itself among the largest non-banking fastag service providers in the country, with the presence of 600 cities and cities in India.

Park + access control and parking automation solutions are deployed in prime locations including airports, malls, and more than 3,000 residential gates.

Installation includes a leading property from Blackstone, Brookfield and Mindspace Real Estate Trusts, as well as airtel head-office (Gurgaon), One BKC (Mumbai), select the city of Walk Saket (Delhi), Mal Pacific (several locations).