Park+, a new smart parking solution startup launched by Amit Lakhotia, ex-VP of Paytm Payments, has raised $11 million funding co-led by Sequoia India and Matrix Partners India.

Founded in July 2019, Park+ is an app-based platform that offers smart, cloud-based automated parking systems for B2B establishments and daily commuters.

Amit Lakhotia with Paytm's Vijay Shekhar Sharma and Alibaba's Founder Jack MaSpeaking of the fund raise, Amit Lakhotia, Founder, Park+, said:"Parking is a massive problem faced across all major urban cities in India.

Avnish Bajaj, Founder and Managing Director, Matrix India, said:“It is well known that parking is a big problem in most Indian cities.

We are privileged to partner with Amit Lakhotia and our co-investors Sequoia India in helping solve this problem at scale. | To read full story, visit https://startuparound.com/read/1579660205.5243182/[Funding-Alert]?ref=audio_experience