Namma Yatri, the community-led mobility app, announced on Tuesday that it has secured $11 million (approximately Rs 92 crore) in a pre-Series A funding round. The round was led by Blume Ventures and Antler, with participation from Google and other investors.
Moving Tech, the parent company behind Namma Yatri and other mobility apps such as Yatri Sathi, Yatri, and Mana Yatri, plans to allocate the funds towards technology enhancements, research and development, and product innovations.
Originally a spin-off from Juspay, Moving Tech launched its open mobility app Yatri in 2020. This was followed by the introduction of Namma Yatri in Bengaluru in 2022. All of Namma Yatri’s apps are fully open-source, with open data metrics and are integrated into the ONDC Network.
“Our people-first approach aims to build empathetic products and technology that are ten times better. This funding will enable us to innovate and expand further,” stated Magizhan Selvan and Shan MS, Co-founders of Moving Tech.
The suite of apps is designed to foster a transparent, efficient, and sustainable transportation ecosystem, with the ambition to become the “UPI for mobility.”
Karthik Reddy, Partner at Blume Ventures, remarked, “We were amazed by the simplicity of what the tech and a robust product can do to solve mass mobility.”
Moving Tech operates in eight cities and towns, facilitating 46 million trips and generating Rs 7 billion in driver earnings without commissions. With a growing user base of 7 million and 400,000 drivers, the company is experiencing rapid expansion, according to their statement.
