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Park+ raises $25 million funding from Sequoia Capital India, others

Existing and new investors, including AdvantEdge, Fund II – A Series of Somani Investments LP and Motherson Lease Solution Limited, also participated in the series B round, a statement said.

November 24, 2021 / 11:44 AM IST

Park+, a super app for car users, on Wednesday said it has raised around USD 25 million (about Rs 186 crore) in funding, co-led by Sequoia Capital India, Matrix Partners India and Epiq Capital.

Existing and new investors, including AdvantEdge, Fund II – A Series of Somani Investments LP and Motherson Lease Solution Limited, also participated in the series B round, a statement said.

Park+ plans to utilise the funds to strengthen its core technology and build innovative solutions for cars and car owners that can solve all their pain points on a single platform, it added.

The company is also looking at aggressive geographical expansion, and at driving a deeper consumer adoption of various services on the app by investing in the overall ecosystem for car owners.