Get My Parking raises Rs 40 cr from IvyCap Ventures

Get My Parking is raising Rs 40 crore, roughly $4.21 million, from existing backer IvyCap Ventures in an extended Series A. The board approved the issue of 7,261 Series A3 compulsorily convertible preference shares at Rs 55,088 each. The round values the Bengaluru company at Rs 375 crore.

One detail is worth reading carefully. The report is headlined as a flat valuation while quoting Rs 375 crore against Rs 335 crore in the previous round. The gap is Rs 40 crore, exactly the size of this cheque, which is what a flat round looks like when the new figure is quoted post money. Entrackr does not say whether the earlier number was pre or post money, so read this as the operating business being held flat rather than as a markup. After this cheque IvyCap holds 31.43% and is the largest external shareholder. Total funding raised crosses $12.5 million, and the earlier Series A of $2.5 million in June 2025 was also led by IvyCap.

Founded in 2015 by Chirag Jain and Rasik Pansare, the company sells AI and IoT based parking management covering automated entry, digital payments and real time availability tracking. For the year ended March 2025 it posted Rs 36.04 crore in operating revenue, up 22.6%, with losses widening 66.2% to Rs 10.87 crore. It competes with Park+, Parky and Park Smart.

The shape of the round is the signal. IvyCap is writing $4.21 million, about 1.7 times its $2.5 million cheque from June 2025, for a mark only around 12% higher fourteen months later. A bigger cheque at a barely moved price is an inside round doing bridge work. It says more about the market for hardware heavy consumer infrastructure than it does about parking.

For anyone running offline retail or a D2C brand with physical points of sale, the operating ratio is the number to copy into your own model. Revenue grew 22.6% while losses grew 66.2%, roughly three times faster. That gap is what deployment led expansion looks like when every new site carries hardware and install cost before it carries margin. If your store, kiosk or vending rollout produces the same shape, you are buying revenue rather than compounding it, and the fix is unit level payback discipline per site, not a bigger rollout target.