The parking issues outside shopping malls and commercial complexes in India’s tech hub Bengaluru prompted Smit Raturi and Prashant Chandrasekaran to find a technology backed solution for the issue. There was hardly any digitisation and use of technology for providing vehicle owners with a quality and efficient parking experience. Smit and Prashant sensed an opportunity here and this is how ValetEZ came into existence in March 2016 to provide digital solutions for safe parking spaces.
VletEZ has been leveraging technology to create an efficient decentralized network of parking infrastructure in cities both off-street and on-street. ValetEZ is focusing on technology for improved parking management in cities.
“We make intelligent hardware and charging points for Electric Vehicles. That hardware controls everything at the parking lot. We design our products in India. We make hardware for parking spaces and deploy. Because there are many products, which come from abroad, don’t match the weather conditions here,” says Smit Raturi, Co-founder and CEO, ValetEZ.
ValetEZ now has its products in 250 locations and 10 cities across India. Other than India it has also installed its hardware in Malaysia. Most of ValetEZ's clients are from Delhi, Bangalore, Kerala, Chennai, Chandigarh and Kochi. It also has got a few mall management companies as its clients.
“One can pay through UPI rather than cash using our hardware in parkings. From 2021 end, we have started working on EV vehicle charging in Shopping Malls, tech parks, hospitals and at home. There was no technology in parking. So they require a system to grow revenue in parking. One can track vehicles using our technology,” adds Smit.
ChargeEZ, is a destination charging facility for EVs. ChargeEZ comes with an app and EV charging point hardware. The app can guide the users to reach the nearest EV charging point when required.
“We are still growing to provide more facilities in parking. We have launched a product named ChargeEZ. Using this one can charge two and three wheeler vehicles. We have already started to deploy at 50 places in Bangalore. We call it Destination Charging. It can be useful in Malls, Hospitals, Offices and houses as well,”
ValetEZ needs Rs 20 crore to run its new initiative ChargeEZ. “Some angel investors invested for our startup. We have invested almost Rs 4 crore. We always focus on technologies as we don’t want to hire many people to run the technology,” adds Smit.
ValetEZ is one of the 20 startups selected for mentorship under the Mentors of Global Bharat program, a TV9 Bharatvarsh and SAP initiative to offer guidance and support to budding entrepreneurs.
“We have challenges in marketing and business development. We need mentorship in promoting our business. They can help us in growing our business with their experiences,” says Smit about his expectations from the Mentors of Global Bharat programme.