Two innovative startups, ParkMate and Homversity, have secured new investments to tackle critical urban challenges—parking solutions and student housing.
ParkMate, a leading parking solutions provider, has raised $1.2 million in a funding round led by Cactus Partners, with contributions from Venture Catalysts and the Marwah Group Family Office.
The startup plans to use the funds to expand its team, optimize operations, and develop innovative parking technologies. Co-founded by Abhimanyu Singh and Dhananjaya Bharadwaj, ParkMate offers smart parking services to shopping malls, corporate offices, hotels, and government-run parking spaces.
Its flagship service, DaSH (Drop & Shop), ensures car parking in under two minutes at crowded malls and business complexes. With clients like DLF, Phoenix Mills, and state governments in Uttar Pradesh and Telangana, ParkMate is a key player in this space.
ParkMate faces competition from platforms like Park+ and Get My Parking, while eyeing growth in smart cities and urban centers.
Homversity, a student housing network platform, has raised $1 million in a pre-Series A funding round led by Inflection Point Ventures, alongside contributions from Shuru-Up, Value Angels, and others.
Founded in 2019 by Saurav Kumar Sinha, Homversity provides students with safe and convenient housing options while streamlining the fragmented student housing market.
The new funds will help Homversity expand its scalable housing model, improve its platform, and extend its reach across India. The startup aims to address key challenges like affordable living and healthy meals for students moving to cities for education.
The student housing market in India is valued at Rs 58,000 crore, driven by over 35 million annual enrollments in universities and colleges, many of which lack adequate on-campus accommodations.
Both startups are driving change in urban living. ParkMate simplifies parking with its smart solutions, while Homversity helps students find better living spaces. Together, they are solving pressing problems and improving quality of life in cities.