ParkMate Raises Undisclosed Amount In Seed Funding From We Founder Circle

The fund raised will be utilized for expanding its team and acquiring talent under different profiles and also intends to use a part of the fresh investment in strengthening the technology backbone of the solution

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We Founder Circle (WFC), an early-stage startup investment platform led by a global community of founders and strategic angels, has announced leading the seed round in ParkMate, a startup that delivers smart parking solutions. ParkMate has secured an undisclosed funding facilitated through EvolveX, global accelerator programme by We Founder Circle. The fund raised will be utilized for expanding its team and acquiring talent under different profiles. It also intends to use a part of the fresh investment in strengthening the technology backbone of the solution.

Company handout

"The ParkMate team and subscribers are thrilled to have WFC as a strategic investing partner. Our technology and innovation are what we believe in, and now with WFCs guidance, we are sure to grow in the right direction. We are confident that this investment will pay off and contribute to our mission and help us scale quickly," said Dhananjaya Bharadwaj, co-founder and CEO, ParkMate.

Established in 2020 in Mumbai, We Founder Circle is a global community of successful founders & strategic angels that have come together to push the start-up industry and steer it towards aggressive growth. WFC provides seed funding, business development and global networking opportunities to startups as it believes early-stage startups need a lot beyond just financial support to become scalable and stable.

"We are delighted to have invested in ParkMate, which has demonstrated the ability to solve the saturation problem of parking spaces due to disproportionate demand and supply. Most Indian cities have unmanaged and haphazard parking, forcing citizens to park any type of vehicle in any location and in any direction. With ParkMate's solutions, the parking system can be altered in a significant way, providing considerable benefits to society. At WFC, we promise to assist the startup in all phases of development including business strategy, community building and connecting with skilled business mentors," Bhawna Bhatnagar, co-founder, We Founder Circle.