Bengaluru-based ride-hailing app Namma Yatri raised Rs 92 crore ($11 million) in a funding round led by Blume Ventures and Antler. Google also participated in this pre-Series A round.
Parent company Moving Tech, a spin-off of Juspay, will use the funds for technology, R&D, and increasing driver earnings.
In April, payments firm Juspay spun off Namma Yatri into a separate entity, Moving Tech. Moving Tech launched Namma Yatri in Bengaluru in 2022. Namma Yatri and its family of apps are fully open-source, with open data metrics, and are also part of the ONDC Network.
Moving Tech operates in eight cities and has facilitated 46 million trips, generating Rs 700 crore in driver earnings without commissions. It has a user base of seven million and 400,000 drivers.
Magizhan Selvan and Shan M S, co-founders of Moving Tech, said in the joint statement that the company is committed to sustainable transportation, “With our people-first approach, our goal is to build empathetic products and technology that are 10 times better. By collaborating with samaaj (community), sarkar (government), and bazaar (business), we aspire to create an impact similar to UPI in India and Linux worldwide. This funding will enable us to innovate and grow further.”
Namma Yatri recently introduced zero-commission auto and cab rentals in Bengaluru and Chennai, with plans to expand to Delhi-NCR. However, starting last September, the platform introduced subscription fees for drivers. This strategy aims to compete with market leaders Ola, Rapido, and Uber. Notably, Rapido and Uber have also launched zero-commission models for auto drivers.
“Moving Tech is at the forefront of transforming mobility with a fresh and innovative model. We were amazed by the simplicity of what the technology and a robust product can do to solve mass mobility. We are glad to partner with an exceptional team and back their grand vision,” said Karthik Reddy, partner at Blume Ventures.
“Namma Yatri’s focus on Digital Public Infrastructure is pioneering. They are building the mobility of the future — one that is inclusive, efficient, and sustainable. We are thrilled to support them,” said Fady Abdel-Nour and Nitin Sharma, partners at Antler.
