The Interview World

ValetEZ, a Bangalore-based smart parking and valet solutions firm, has been transforming parking and mobility across Indian cities since its inception in 2016. The company provides a comprehensive suite of services, including parking management, valet parking, pre-booking options, digital valet systems, and car care services, all aimed at streamlining the customer experience.

ValetEZ delivers a seamless and stress-free parking experience. By allowing customers to pre-book spots and rely on skilled valets, the company eliminates the hassle of searching for parking or managing vehicles. This not only saves time and effort but also ensures peace of mind. Property owners partnering with ValetEZ benefit from enhanced operational efficiency, improved utilization, and increased revenue.

Beyond parking, ValetEZ extends its services to car care, offering a range of solutions like car washing, detailing, and maintenance. These services are easily accessible through the ValetEZ app, with a team of trained professionals handling all customer needs. The company also supports the EV revolution, offering its exclusive EV charging solutions under the ChargeEZ brand.

In an exclusive dialogue with The Interview World, Aashray Bhalwal, Head of Business and Operations at ValetEZ, delves into their cutting-edge parking solutions, discusses the vast market potential for such solutions in India, and outlines the company’s growth trajectory. Here are the key insights from this enlightening discussion.

Q: What innovative smart parking products have you designed, and how do they stand out from competitors in the market?

A: Started in 2016, ValetEZ is a smart parking solutions company. Over the past eight years, we’ve expanded our offerings with a variety of innovative products. We now provide FASTag-based solutions for office spaces, malls, tech parks, hospitals, and payment parks. Our system integrates FASTag with Number Plate Recognition (NPR) technology, offering a completely cashless and contactless experience.

Moreover, we’ve developed ticket dispenser boom barriers and EV chargers, manufactured locally as part of the “Make in India” initiative. Recently, we introduced our ultrasonic sensors to the market. While most companies import these from China, we’ve engineered our own, resulting in a 30-35% cost saving for our customers after conducting a thorough cost analysis.

Our cloud-based solutions provide us a competitive edge in the market by ensuring seamless integration and superior cost-effectiveness for our clients. In terms of accuracy, we stand apart from the competition. While other companies in the FASTag parking industry struggle with 60% accuracy, our system exceeds 90%. For NPR, we achieve over 95% accuracy. Unlike many others, we develop the entire suite of hardware and technology in-house, offering an end-to-end solution that sets us apart.

Q: What market opportunities exist for these technologies specifically in India?

A: In India, post-COVID, the demand for FASTag technology surged due to the rise in digital transactions, as people preferred contactless experiences over interacting with exit guards. However, there is now a noticeable shift toward NPR (Number Plate Recognition) systems. This change is driven by the Merchant Discount Rate (MDR) charges associated with FASTag, which are becoming a concern.

Many major developers are adopting ultrasonic sensors and camera-based solutions to monitor parking availability at both the slot and floor levels. The rationale is clear—manpower costs are significantly higher. In contrast, these advanced technologies offer a quicker return on investment, typically within 18 months. Beyond that, they provide substantial cost savings and improved profitability.

Q: Are you currently exporting your products and solutions to international markets?

A: We are actively engaged in exports, with a current client base in Malaysia. Additionally, we are exploring new opportunities in other markets, including Vietnam, where we are working to establish further partnerships.

Q: What is your current implementation size, and how do you envision its growth over the next 5 to 10 years?

A: We have successfully implemented our solutions in over 400 parking locations across 15 cities in India. Our goal for the next five years is to expand our presence in technology parks and shopping malls nationwide. Specifically, within the next year, we aim to increase our footprint to 2,000 locations, a key short-term objective. While five years is a significant timeframe, predicting precise details at this stage would be premature.

ValetEZ Revolutionizing Parking Solutions for the Digital Age
ValetEZ Revolutionizing Parking Solutions for the Digital Age
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