Cactus Partners Drive $ 1.2 Million Growth Investment in ParkMate

ParkMate, a leader in the smart parking industry, has successfully raised $ 1.2 million in a funding round led by Cactus Partners, an early growth-stage venture fund. Existing investors like Venture Catalysts and the Marwah Group Family Office were also part of the funding round. .The fresh capital will be used to

expand ParkMate’s operations, boosting its business development team, and accelerate innovation in its cutting-edge parking solutions.

Founded by Abhimanyu Singh and Dhananjaya Bharadwaj, ParkMate is at the forefront of transforming the parking experience with its state-of-the-art technology. The company’s flagship service. DaSH (Drop & Shop), offers guaranteed parking at any location like shopping malls, office complexes, and entertainment hubs. By addressing the age-old problem of parking congestion. ParkMate is reshaping the way urban mobility is experienced.

ParkMate’s impressive roaster of clients includes industry giants such as DLF, Phoenix Malls, Indian Army, Ansals API, Unitech group, Shalby Group, M3M alongside strategic partnerships with the Uttar Pradesh and Telangana governments. As the rise of smart cities continues ParkMate is well-positioned to lead the way in the evolution of urban parking solutions.

Co-founder Dhananjaya Bharadwaj brings a unique background to the company, having served as an Armed Forces officer. His experiences in the Armed Forces have instilled in him the precision, discipline, and resilience that are now key to ParkMate’s mission and operations. This foundation has helped shape the company’s dynamic approach to overcoming the challenges of modern urban living.

While, co-founder Abhimanyu Singh brings an extensive business experience of working at a senior administrative position of Steel Authority of India and his expertise of managing complex operational businesses makes the founders as the perfect team to solve this operations heavy business currently dominated by local parking mafias.

“So far, we have been passively building our tech and business to achieve an established and  stable position in the market. With this funding round, we are going to go aggressively in expanding our services to new territories while strengthening our position in the existing markets. With partners like Cactus partners, MeITY, VCats and Amity, Marwah group along with the support of our existing investors like WFC and Bajaj VC we are going to redefine the parking industry soon” mentioned Dhananjaya Bharadwaj, co-founder of ParkMate.

This funding round also marks Cactus Partners’ eighth investment since 2021, reinforcing their dedication to supporting innovative and impactful ventures across industries.