Car ownership solutions platform Park+ raised $17 million as part of a Series C led by existing investors Epiq Capital, Matrix Partners India and Sequoia India.
Park+ provides car owners with a variety of services such as car parking solutions, FASTag management, paying and viewing challans, car insurance, and locating EV charging stations, among others. The funding will be used by the startup to expand its presence to more than 100 cities by 2023 and to increase its density in existing geographies. Park+ will also use the funds to strengthen its services vertical and develop new business use cases. This year, the funds will also be used to hire 200+ employees in areas such as sales, operations, technology, and business development.