ParkMate raises $1.2-M led by Cactus Partners

Noida-based car parking solutions provider ParkMate has raised USD 1.2 million led by early growth-stage venture fund Cactus Partners. Existing investors such as Venture Catalysts and the Marwah Group Family Office have also participated in the round.The new funds will be used to ramp up its growth trajectory, invest in its team to win business, streamline its operations, and continue to innovate new solutions.Founded by Dhananjaya Bharadwaj, ParkMate offers smart parking solutions to shopping malls, office complexes, and Hotels in the corporate segment and to parking contractors for government parking spaces.