ParkoBot is a smart solution that enables users to discover, pre-book, and pay for available private or commercial parking spaces through its platform. At the heart of the system is the SMART IoT Parking Space Lock, also known as the ParkoBot, which ensures secure and efficient parking management.

The company's core philosophy revolves around reducing road congestion by encouraging the hourly sharing of parking spaces. Similar to how Airbnb operates in the hospitality sector, ParkoBot allows property owners referred to as Hosts to list their parking spots on the app. By using the IoT-enabled ParkoBot Space Lock, these Hosts can monetize their vacant parking areas by renting them out to nearby drivers on an hourly basis.