Homegrown IoT company iRAM Technologies bags 3 multi-million-dollar projects to develop Public Smart Parking for Bhubaneswar, Kanpur & Nasik smart cities

First-of-its-kind hi-tech parking solutions to address traffic congestion, revenue pilferages and need of cashless parking payments in these cities in association with leading system integrators in Smart City Solutions space

New Delhi, Dec 20, 2018: iRAM Technologies, a homegrown product development and technology company with most advanced solutions based on Internet of Things (IoT), has won 3 multi-million-dollar projects for developing ‘On and Off-Street Smart Parking Solutions’ for Bhubaneswar, Kanpur and Nasik smart cities. iRAM has won these projects in partnerships with leading conglomerates in the Smart City Space.

iRAM will install their IOT architecture based smart parking technology which includes sensors, parking gateways, Parking Management & Guidance software, Mobile Point of sale solution and citizen application at 87 sites in Bhubaneshwar, 42 sites in Kanpur and 33 parking sites in Nasik respectively. The projects should be deployed over the next six months.

With this deployment respective smart cities will be able to provide citizens convenience to find and reserve parking even before stepping out of their homes or offices. Citizens will be charged appropriately through approved Mobile Point of sale systems providing multiple options of credit card/ debit card/pre-paid card/wallet-based payments. IRAM envisages 80% cashless payment over next 2-3 years’ in parking domain which is otherwise pre-dominantly a cash transaction.

On the other hand, smart cities will receive real time data wrt revenue collections, city wide parking occupancy. Analytic engine will help smart cities to plan for new investments in parking spaces at required areas in the city.

Udaya Bhaskar Rao Abburu, CEO & Managing Director, iRAM Technologies, said,

We at iRAM are committed to offer IoT enabled solutions aligned to the Smart City Mission. As parking is a challenge that our cities are grappling with, we have developed for the first time in India IoT enabled Smart Parking Solutions that are conducive to Indian conditions.

Vishal Mehra, Director & VP Sales, iRAM Technologies, said,

These wins are noteworthy for iRAM. We will work together with our partners and the government agencies for successful deployment of these projects.

iRAM’s Smart Parking Solutions can be deployed on-street, off-street and covered parking spaces. The Smart Parking System efficiently optimizes the usage of the available parking space, enhancing the functioning of streets in the city and ensures appropriate parking fees, avoiding payment pilferages through digital payments aligned to government’s vision of cashless payments. Using a mobile application, it allows users a great convenience to find available parking spaces, reserve and pay online.