Funding · Mobility & Logistics

Parkobot raises seed funding for smart parking

By Startup Enthusiast · 24 February 2026

What they do

Parkobot makes IoT-enabled parking barriers and an app for booking spots

It raised ₹2.09 crore from IPV and HNI investors, adding to earlier funding

The company aims to reduce traffic congestion by letting users pre-book and pay for parking

Parkobot is an IoT (Internet of Things) parking startup that has raised a fresh seed funding round.
The amount of the new round was not disclosed.
Earlier, the company had raised ₹2.09 crore from IPV and high-net-worth individual (HNI) investors.
The funds will be used to strengthen infrastructure, expand deployments, and accelerate growth in metro cities.
The long-term goal is to reduce car circling and decongest Indian streets using AI-powered dynamic pricing and pre-booking.

Urban India faces a growing parking problem, with many private spaces unused during certain hours.
Early hardware prototypes failed due to waterlogging, dust, power instability, and physical misuse.
The product was redesigned for ruggedness, achieving a battery life of 6 months to 2 years.
Customer feedback led to features like FASTag integration, pricing tiers, night EV charging, and helmet lockers.

Parkobot provides an IoT-enabled smart barrier and app-based booking system for parking.
Its core product is a Parking Guard device installed at individual parking spots.
The device is made of cold-rolled steel, withstands 5 tons of force, is waterproof, and connects to the app and cloud.
The app lets users discover spots, pre-book and pay digitally, navigate to the exact space, and unlock the barrier on arrival.
For commercial use, Parkobot offers an AI and IoT-enabled Parking Management System with FASTag readers, number plate recognition, dynamic pricing, and EV charging integration.
Two-wheeler users get helmet lockers for secure storage while parked.
The platform manages thousands of parking hours monthly.

Strengthen infrastructure and expand deployments.
Accelerate growth in metro cities.
Reduce car circling and decongest streets using AI-powered dynamic pricing and pre-booking.

IPV (investor)
HNI investors (investor) — High-net-worth individuals who invested in earlier rounds.

Product: based parking startup
Customers: Drivers needing parking and property owners with underused parking spaces.
How it makes money: Runs a marketplace for hourly parking bookings and takes revenue from parking rentals.
What sets it apart: Uses an IoT-powered smart barrier, a mobile app and an in-house parking management system.