BENGALURU: Community-led mobility app Namma Yatri on Tuesday said it has raised $11 million (about Rs 92 crore) in a pre-Series A funding round led by Blume Ventures and Antler, with participation from Google and other investors.
Moving Tech, the company behind community-led mobility apps Namma Yatri, Yatri Sathi, Yatri and Mana Yatri, said it will invest the fund in technology, R&D and product innovations.
Moving Tech, a spin-off from Juspay, launched open mobility app, Yatri, in 2020. Subsequently, it launched Namma Yatri in Bengaluru in 2022.
Namma Yatri and its family of apps are fully open-source, with open data metrics, and part of the ONDC Network.
“With our people-first approach, our goal is to build empathetic products and tech that are 10x better. This funding will enable us to innovate and grow further,” said Magizhan Selvan and Shan MS, Co-founders of Moving Tech.
The apps aim to create a transparent, efficient, and sustainable transportation ecosystem, aspiring to be the “UPI for mobility."
“We were amazed by the simplicity of what the tech and a robust product can do to solve mass mobility,” said Karthik Reddy, Partner at Blume Ventures.
Moving Tech is live in eight cities and towns, having facilitated 46 million trips, generating Rs 7 billion in driver earnings without commissions.
With a user base of 7 million and 400,000 drivers, the firm is growing rapidly, said the company.