Latest News | ParkMate Smart Parking Solutions Raises USD 1.2 Million

New Delhi, Nov 27 (PTI) ParkMate Smart Parking Solutions has raised USD 1.2 million (about Rs 10 crore) from Cactus Partners and plans to utilise the capital infusion to accelerate its growth trajectory.

Existing investors Venture Catalysts and the Marwah Group Family Office also participated in the round.

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The company will invest in its team to win business, streamline its operations and continue to innovate new solutions, a company statement said.

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*** ShopDeck raises USD 8 million * D2C e-commerce solutions provider ShopDeck has raised USD 8 million (about Rs 67.5 crore) in a funding round led by Bessemer Venture Partners, with participation from Elevation Capital, Venture Highway and Chiratae Ventures.

The company will use the fresh capital towards the enhancement of the AI-driven technology stack to provide more profound insights and automation. It will also aim to broaden on-ground operations to assist sellers in Tier-2 and Tier-3 cities, grow the team, and formulate go-to-market strategies to further solidify ShopDeck's market position.

"This capital will drive ShopDeck's mission to empower small and mid-sized businesses, many of which are emerging brands exploring D2C for the first time, to achieve profitability and scale, and establish their online presence," a company statement said.

*** Ikin Global raises USD 1 million * IoT smart lock brand Ikin Global has raised USD 1 million (about Rs 8 crore) in a funding round from Unicorn India Ventures and Callapina Capital.

It plans to deploy the capital for enhancing the current product line with new launches that would offer AI-powered analytics, advanced sensor technology and industry-specific solutions.

It will also expand its team presence in major markets such as India, the US and Europe, and aims to strengthen its sales, marketing, operations, and support divisions, a company statement said.

Additionally, the company plans to boost its production capacity to align with the increasing demand from the logistics industry.

Ikin has an order book of 20,000 smart locks and has set a revenue target of Rs 30 crore by next year from its smart lock operations within the logistics sector.

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