Namma Yatri, a Bengaluru-based ride-hailing company, has raised Rs 91 crore (about $11 million) in a pre-Series A funding round. The funding was led by Blume Ventures and Antler, with participation from Google, led by Sundar Pichai, and other investors.
Purpose of Fundraising
Namma Yatri’s parent company, Moving Tech, plans to use the new funds to invest in technology, research, and product innovation. The goal is to develop an integrated, digitized public transportation system that is as convenient and seamless as cab or auto travel. This effort aims to increase the usage of public transport and contribute to a sustainable future.
“We aim to create tech products that are 10 times better by working with the community, government, and businesses. This funding will help us innovate and grow further,” said Shan MS and Magizhan Selvan, leaders at Moving Tech, in a joint statement.
How Namma Yatri Operates
Namma Yatri was launched in November 2022 by Juspay in collaboration with Nandan Nilekani’s BECKN Foundation and supported by Bengaluru’s Auto Rickshaw Drivers’ Union (ARDU). The app and its related apps are fully open-source and part of the Open Network for Digital Commerce (ONDC). These apps aim to create a transparent, efficient, and sustainable transportation ecosystem, aspiring to be the “UPI for mobility.”
Namma Yatri introduced zero-commission auto and cab rentals in Bengaluru and Chennai and plans to expand to Delhi-NCR soon.
Moving Tech’s Growth
Moving Tech, which operates Namma Yatri, has been active in eight cities, facilitating 46 million trips and generating Rs 700 crore in driver earnings without charging commissions. The company claims to have a user base of 7 million and 400,000 drivers.
“Namma Yatri’s focus on digital public infrastructure is pioneering. They are building the future of mobility — inclusive, efficient, and sustainable. We are excited to support them,” said Fady Abdel-Nour and Nitin Sharma, Partners at Antler.
“We were impressed by how simple yet effective the technology is in solving mass mobility problems. We are pleased to back this exceptional team and their grand vision,” said Karthik Reddy, a partner at Blume Ventures.
Startup Vision
In April, Juspay spun off its ride-hailing subsidiary, Namma Yatri, into a separate entity called Moving Tech. This new company is led by Juspay’s Chief Growth Officer, Shan MS, and Chief Product Officer, Magizhan Selvan. Moving Tech aims to increase the use of public transport, contributing to a sustainable future by creating a seamless and efficient transportation system.
With the new funding, Namma Yatri is set to enhance its offerings and expand its reach, competing directly with ride-hailing giants like Ola and Uber while focusing on a people-first approach and innovative solutions.
