New Delhi: Smart parking platform Get My Parking (GMP) has acquired Constapark. Get My Parking (GMP) is a Delhi based company while Constapark is a Bengaluru based firm.
After the acquisition process is complete, the Constapark founders and team will join the Bengaluru office of GMP. This acquisition is a sign of consolidation in the rapidly-evolving mobility industry and will help strengthen the domestic market leadership of Get My Parking.
This acquisition comes after the company's recent USD 3 million Series A funding. Investors who participated in that round included their existing pre-series A investors, IAN Fund, BEENEXT and others. They have raised USD 4.5 million in total so far.
GMP was founded in July 2015 by Chirag Jain and Rasik Pansare with the aim to digitise the fragmented parking industry. Since then the team has grown to 65 members with offices in Delhi and Bangalore. GMP has digitised more than 300 parking locations that process two million parking transactions monthly.
They have done some stellar projects like Maha Kumbh Mela in 2016 where they digitised 400 hectares of parking space in Ujjain for 200,000 car spaces. They were recently awarded the Amazon AWS Mobility Awards 2017 for Travel App of the Year (emerging).
GMP provides an interoperable, plug-n-play platform to parking operators and smart cities. This enables any type of parking to be digitized and connect to consumer mobility, offering seamless parking experience across all touch points.
"We value the immense experience that the Constapark team brings to the table, especially now that we are expanding our footprint both domestically and globally." Co-founder Rasik Pansare added, "For any organization, including ours, the team forms the core foundation. As such, we are enthusiastic about this deal as the Constapark team has a proven passion and execution expertise around solving parking," said Chirag Jain, CEO GMP.