Namma Yatri Secures $11M to Revolutionize Mobility Solutions

Main Points:

1. Moving Tech, the parent company of Namma Yatri, Yatri Sathi, Yatri, and Mana Yatri, has raised $11 million in pre-Series A funding from Blume Ventures, Antler, Google, and others.

2. This is the first venture funding for the Bengaluru-based company.

3. The funds will be used for technology, R&D, and product innovations aimed at empowering drivers, integrating public transport, and improving customer convenience.

4. Moving Tech aims to increase driver earnings while providing reliable, affordable, seamless, and sustainable mobility solutions through direct-to-driver and multimodal transportation models.

5. Namma Yatri, launched in 2022, is an open-source app with a user base of 7 million and 400,000 drivers across 8 cities, facilitating 46 million trips.

6. The company offers zero-commission auto and cab rentals in Bengaluru and Chennai, with plans to expand to Delhi-NCR, competing with Ola, Rapido, and Uber.

7. Founders Magizhan Selvan and Shan M S emphasize a people-first approach, collaborating with the community, government, and business to create impactful technology.

Namma Yatri Secures $11M to Revolutionize Mobility Solutions

Moving Tech, the innovative company behind community-led mobility apps Namma Yatri, Yatri Sathi, Yatri, and Mana Yatri, has successfully raised $11 million in a pre-Series A funding round. This funding round was led by Blume Ventures and Antler, with participation from Google and other investors. This marks the first venture funding for the Bengaluru-based company, setting the stage for significant growth and development.

The newly acquired funds will be channeled into technology, research and development, and product innovations. Moving Tech aims to empower drivers, integrate public transport, and enhance customer convenience through these investments. According to the company, their direct-to-driver and multimodal transportation models are designed to increase driver earnings while providing reliable, affordable, seamless, and sustainable mobility solutions.

Namma Yatri | Community-Led Mobility Apps Company

Launched in 2022, Namma Yatri and its family of apps represent a significant leap in the mobility sector. These apps are fully open-source, feature open data metrics, and are part of the ONDC Network. With a user base of 7 million and 400,000 drivers, Moving Tech is operational in eight cities and towns and has facilitated 46 million trips to date.

One of Namma Yatri's standout features is its zero-commission auto and cab rentals, currently available in Bengaluru and Chennai. This approach is set to expand to the Delhi-NCR region, positioning the company to compete with market leaders such as Ola, Rapido, and Uber.

Leadership Vision

Founders Magizhan Selvan and Shan M S have articulated a clear vision for Moving Tech. "With our people-first approach, our goal is to build empathetic products and technology that are 10 times better," they said. By collaborating with the community (samaaj), government (sarkar), and business (bazaar), they aspire to create an impact comparable to UPI in India and Linux worldwide. The recent funding will enable Moving Tech to innovate further and expand their reach.

Future Prospects

The future looks promising for Moving Tech and its suite of mobility apps. With strong financial backing and a clear vision, the company is well-positioned to revolutionize the mobility sector. By focusing on driver empowerment, customer convenience, and sustainable solutions, Moving Tech aims to set new standards in the industry.

As they continue to grow and innovate, Moving Tech's commitment to a people-first approach and collaboration with key stakeholders will be crucial in driving their mission forward. The company is poised to make significant strides in the mobility landscape, benefiting drivers and passengers alike.