ParkMate, a smart parking startup, raises undisclosed funds from We Founder Circle

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ParkMate is a start up that creates smart parking solutions. It has raised money through EvolveX. This program, run by We Founder Circle (a platform for investing and accelerating start-ups), was launched to raise funds. The amount raised is not disclosed. WFC has joined forces with several “strategic Angels” in order to assist the new company with market challenges and gain an advantage over its competitors.

The company intends to use the money for more employees and to identify people who fit a broad range of profiles. The company also plans to invest some of the new capital to enhance the technology foundation of its solution.

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ParkMate’s parking service allows users to input the location they wish to go and a ParkMate employee will assist them when they reach the spot. ParkMate attendants not only drive the client’s vehicle to the nearest parking spot, but also park it there.

WFC has invested between $0.5 million to $2 million in startups during their initial stages. WFC provides seed money to start-ups, opportunities to grow their businesses and access to a worldwide network. It believes these businesses require more than money to grow and be stable. It has invested $12 million in 33 businesses since its inception.

Bhawna Bhatnagar (Co-founder of We Founder Circle) stated that they were thrilled to have invested in ParkMate. ParkMate has proven its ability to solve the problem of overcrowding parking spaces because of disproportionate demand.

ParkMate’s Co-founder and CEO Dhananjaya Bhadwaj stated, “Our technology is what we believe in. Now with WFCs guidance we are certain to grow in the correct direction.”

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