Park+ has announced that the platform has raised $25 million in the latest series B funding round led by Sequoia Capital India, Epiq Capital and Matrix Partners India. The round also saw participation from AdvantEdge, Fund II as well as Motherson Lease Solution Limited.
Speaking on the annoucement, Amit Lakhotia, Founder and CEO of Park+, commented, “Post Covid, there is a strong shift away from public transport and shared mobility, with growing preference for personal vehicles. Park+ is committed to revolutionize how car-related services are offered and managed in India. The continued trust of our investors will help us strengthen our plans of expansions, hire and deploy skilled operational teams and build strong offerings on top of our existing services, providing a 360-degree experience for car owners across the country.”
Avnish Bajaj, Founder and Managing Director at Matrix India, added, “Park+ has built a business in one of the most underserved segments in the country, underscoring the vast opportunity at hand. Their continued focus and immaculate execution on scaling products and services to drive a greater adoption of smart solutions in an operationally complex business is what makes Park+ stand out, we’re excited to be deepening our partnership with Amit and look forward to the journey ahead!”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.