Elvicto Technologies is an innovative company that specializes in smart parking management solutions powered by cutting-edge technology like AI, IoT, and RPA. Their impact is most evident in the optimization of parking operations, helping reduce operational costs by as much as 80% while increasing revenue by up to 3X. Their automated systems handle access control, payment collection, and parking guidance, significantly improving the efficiency of parking facilities. Through their solutions, users can enjoy seamless experiences with features such as digital payments, automatic entry/exit, and real-time parking slot availability tracking.

For facility owners, Elvicto’s platform provides detailed insights into parking trends, occupancy, and revenue, enabling better control over tariffs and operations. Their system's impact extends to large-scale implementations such as at Technopark and Southern Railways, where the revenue generated from parking services increased significantly after adopting Elvicto’s smart solutions. Additionally, the company has been recognized for its innovation and has received accolades like the Smart City Leadership Award and the TMA-ADANI Startup Award.

An example of Elvicto’s real-world impact is the collaboration with Southern Railways, where their system led to a 50% increase in parking revenue while also eliminating paper-based transactions. Elvicto's technological innovations, including its work with FASTag-based contactless parking, continue to pave the way for smarter, more sustainable parking solutions across various sectors like healthcare, government, and urban planning.The startup is currently offering their service to the Cochin International Airport Limited and in other major destinations. 

Support offered from Kerala Startup Mission during the period of consideration for SRF 2024: Direct Procurement