AI-based parking management startup Get My Parking is set to raise Rs 40 crore (approximately $4.21 million) in an extended Series A round from existing investor IvyCap Ventures, according to a regulatory filing accessed by trade publication Entrackr. The company's board has passed a resolution to issue 7,261 Series A3 compulsorily convertible preference shares at an issue price of Rs 55,088 each to complete the raise.
Based on the pricing of the round, the transaction values Get My Parking at approximately Rs 375 crore, up from the Rs 335 crore valuation at which it last raised capital. Founded in 2015 by Chirag Jain and Rasik Pansare, the Bengaluru-based company offers AI and IoT-powered parking management solutions that allow operators to digitise parking facilities through automated entry systems, digital payments and real-time availability tracking. The company says it has digitised more than 3,000 parking lots across Europe, the United States and India, and works closely with logistics and automotive companies to address the mobility and parking piece of urban transport infrastructure.
This is not IvyCap's first bet on the company. The venture capital firm first backed Get My Parking in 2021 with a $6 million round, followed by a further extension in 2025, and has now come back a third time in an extended Series A round that keeps the company's valuation broadly flat rather than marking a fresh step-up. Following this allotment, IvyCap Ventures will remain Get My Parking's largest external shareholder with a 31.43% stake in the company.
The proceeds from the new round will primarily be used to fund ongoing business operations. Get My Parking has yet to file its financial statements for the fiscal year ended March 2026. For the previous fiscal year, ended March 2025, the company reported operating revenue growth of 22.6% to Rs 36.04 crore, while losses widened 66.2% to Rs 10.87 crore over the same period — a trajectory that reflects the company's continued investment in scaling its platform even as revenue climbs.
Get My Parking operates in a competitive niche of India's broader urban mobility and proptech landscape, facing competitors including Park+, Parky and Park Smart, among others. The Bengaluru-based company has raised over $12.5 million to date across multiple funding rounds since its founding. As Indian cities continue to grapple with acute parking shortages and inefficient space utilisation, the sector's growing investor interest reflects a broader recognition that digitising basic urban infrastructure — parking, traffic management and logistics — remains a large and underpenetrated opportunity even as headline-grabbing sectors like fintech and quick commerce dominate India's startup funding conversation.
