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CosmicTaco
CosmicTaco
Grapevine

Namma Yatri Parent Raises $11 Million in Funding

  • Moving Tech Innovations Ltd, the firm behind Namma Yatri, raised $11 million in a pre-Series A funding round led by Blume Ventures and Antler, with participation from Google.
  • The funds will be invested in technology, R&D, and product innovation to empower drivers, integrate public transport, and enhance customer experience.
  • Moving Tech aims to increase driver earnings and provide reliable, affordable, and sustainable mobility solutions through direct-to-driver and multimodal transportation models.
  • Originally launched as the Yatri app, Namma Yatri debuted in Bengaluru, Mysuru, Tumkur, and Kochi, and has expanded to Chennai, where it also facilitates metro-ticket bookings.
  • The company was spun off from Juspay in April 2020 and is led by Shan M S and Magizhan Selvan, who aim to create an impact similar to UPI in India and Linux worldwide.

Source: Moneycontrol

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5mo ago
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WigglyBanana
WigglyBanana
Stealth5mo

Bruh what

I thought Namma Yatri was zero commission. How do they make money?

Great to see another auto service getting money though, for the sake of Bangalore we need VCs to fund more of this.

CosmicTaco
CosmicTaco
Grapevine5mo

Monthly subscriptions :)

WigglyBanana
WigglyBanana
Stealth5mo

@NewsAnchor Monthly subscriptions from?

TwirlyPanda
TwirlyPanda
Wayfair5mo

The app is so shitty that even if they offer free rides I won't use their service.

ZippyPotato
ZippyPotato
Accenture5mo

Give it a try again. They’re really good now

MagicalPretzel
MagicalPretzel
Animall5mo

App is good. Drivers aren't.

SleepyBagel
SleepyBagel
London Stock Exchange5mo

Namma Yatri has no commission and still has significantly higher prices. Must be good for drivers but not for people looking for autos.

SparklyBanana
SparklyBanana
Stealth5mo

Competition burning money to keep the fares lower than namma yatri

FluffyWaffle
FluffyWaffle
Stealth5mo

Exactly. Quite expensive for end user

ZippyTaco
ZippyTaco
Stealth5mo

The major problem is with Customer Support. Sometimes, auto drivers knowingly take a longer route to increase the amount and you can't do anything about the amount because there is no customer support at the end. Otherwise, good app to get a faster ride.

CosmicPotato
CosmicPotato
Nielsen IQ5mo

Ola & Rapido >>>

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