Park+ strengthens its presence in the Mumbai metropolitan area by acquiring Otopark

Mumbai, Maharashtra, India (NewsSee) • Strategic acquisition helps Park+ reach milestone of over 10,000 parking spaces, with 100% coverage in the Mumbai metro area Park+, a super mobile app for car owners cars, today announced its acquisition of Otopark, a community driven parking solutions provider that connects people looking for parking spaces with people who have an inventory of spare parking spaces . With this acquisition, Park+ has achieved 100% coverage in the Mumbai Metropolitan Region (MMR). Additionally, all Otopark employees will be absorbed into Park+ to further strengthen its Mumbai team. Otopark was founded by Aakash Gupta in 2019 and incubated by Society for Innovation and Entrepreneurship (SINE), IIT Bombay. Over the years, Otopark has achieved many milestones in the form of a scholarship from Atal Innovation Mission, Niti Aayog, and a grant from the Government Department of Science and Technology. from India. Commenting on the development, Amit Lakhotia, Founder and CEO of Park+, said: “Mumbai Metropolitan Region (MMR) has one of the highest car ownership densities in India and the biggest problem for car owners. of the region was – finding a parking space, at the right time, in the right place and at the right price. Through our strategic acquisition of Otopark, we now have 100% coverage in MMR and look forward to delivering better car ownership experiences to our app users, capitalizing on the knowledge and local expertise of Otoparks. We will continue to identify and partner with businesses that enable us to delight our customers, across India. With a mission to deliver an unrivaled car ownership experience, Park+ now offers a range of services to enhance that experience for customers. Park+ has become a one-stop shop for car owners to access all services related to car ownership – not only limited to parking, but also encompassing – car insurance, car servicing/maintenance, car wash and FASTag management. “We are proud of the positive impact Otopark has created for the MMR community and are confident that our acquisition by Park+ will further accelerate this positive impact. For us, Otopark was about unlocking the inherent business value that lay dormant in underutilized parking inventories at the community level. It also gives me immense pride to now be part of the Park+ family and I look forward to delighting a wider customer base, said Aakash Gupta, Founder of Otopark. About Park+ Founded in 2019 by Amit Lakhotia, Park+ is a super mobile car ownership app that solves the daily challenges faced by car owners, ranging from parking, FASTag management, car insurance, automated vehicle access control systems in shopping malls, corporate parks and residential apartments. . With 40 Lakh users, Park+ has presence in Delhi NCR, Mumbai and Bangalore.


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