Setting up the context: Looking back
When we started ParkingRhino in 2015, we were optimistic about the problem that we were going to solve “discovering and booking parking areas to save time”, started with bootstrapped funds, three team members and a problem to solve on our plate. Fast forward a year in 2016, our mobile app was launched and we expanded in multiple cities including Hyderabad, Delhi, Pune.
Soon we discovered a sister problem in the B2B space where parking management is not digitized and data is not available to make the necessary decisions and launched our first B2B POS Product in Apr 2016 to enable real-time visibility into parking inventory and digitizing the revenue slips to avoid the manual mistake. We pivoted to a SAAS based business model from an earlier device based charging model. Fast forward 9 months, we secured 3.85 Cr in seed funding.
We take pride in calling ParkingRhino as a smart data company solving mobility use cases using data.
Connecting dots: Looking forward
ParkingRhino Solutions: 9 Ways We Are Transforming Parking Experiences
- Digitizing the parking spaces with cutting edge technology to the parking providers
- Forecasting parking occupancy
- Providing a rich user experience for the drivers
- Helping mobility and auto commerce players with parking, traffic and tracking data points with our open APIs
- Sharing mobility information (Case study: Nandi Hills)
- Optimizing employee traffic
- Adding revenue growth to businesses, improving compliances and tracking for smart cities
- Increasing turnover for city admins
- Optimizing parking supply and demand
Our Growth Snapshot
People don’t desire products. They desire feelings that products give them.
With each problem that we have solved until now, we have focused on making people smarter than before. Read about how we brought work-life balance to parking supervisors. This is one of the multiple scenarios that we have tapped in and the result experience has helped us grow further. Our last funding has helped us in growing our team base, strengthening our technology and expanding to new markets.
We have grown by 5X in revenue in the last 9 months using AI, IoT, Cloud & Analytics technology.
What’s coming next?
We are developing solutions to forecast parking occupancy via Artificial Intelligence’s deep neural network method. This will minimize the dependency of collecting the availability from parking sensors. Our data-driven predictive AI system for parking search engine uses statistical relationship among parking location, parking demand, traffic speed, parking meter transactions, user behavior like more than 15+ different sources.
The goal is to turn data into information, information into insight, and insight into a solution.