This former Paytm executive will save you a parking spot

Last year, Delhi police received about 250 calls a day on parking issues in residential areas. Many arguments over a spot escalated into vicious scraps. Not just the capital, many cities are grappling with this problem.

Amit Lakhotia is trying to provide a solution through his startup Park+, a platform for real-time parking discovery, booking, payment, and tracking. Lakhotia, who held senior roles in large startups such as Paytm, MakeMyTrip and Indonesian e-commerce firm Tokopedia, calls it the “Book-MyShow of parking”.

“Ten years ago, we used to line up in front of cinema counters to buy movie tickets; there was no guarantee we will get the tickets. That’s the situation with parking. It’s an everyday use case and there’s no discovery available,” he said. “Through our platform, we will first solve discovery and then booking and payments. Gradually, we will work towards giving you a parking spot within 500 meters of your desired location.”

Amit Lakhotia

Lakhotia plans to bring out the consumer app by March and has raised $10 million (Rs 71 crore) from venture capital firms Sequoia Capital and Matrix Partners. Prominent angels like MakeMyTrip’s Deep Kalra and Rajesh Magow, Ashish Hemrajani of BookMyshow, Kunal Shah of Cred, and Snapdeal’s Kunal Bahl and Rohit Bansal have parked another $1 million (Rs 7.1 crore) with him. Park+ will provide real-time and advance bookings. So far, it has tested about 50,000 parking slots, and it is in talks to widen the coverage in commercial and residential areas. For people driving to work, Park+ plans to offer subscription packages.

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“I have always believed that you must look at consumer pain points. If you really solve them, people will pay. Parking is a problem, every motorist understands. I have not met anyone who says parking is not a problem for them,” Lakhotia said. He estimates that over a period, 60-70% of parking will move online, just like movie tickets.

In the long run, Lakhotia plans to optimise the real estate of parking slots by using empty hours of parking spots for other use cases like food trucks and cloud kitchens. “Real estate needs to be monetised. For example, office parking spots will be empty during weekends and at night. How we can use it? I can open that space to consumers going for dinner. So, dining and electric vehicle charging points can be additional use cases,” he said.

But for now, he is focused on building the supply side with the hope that consumers will get on board like investors.


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