Moving Tech, the operator of community-focused mobility apps including Namma Yatri, Yatri Sathi, Yatri, and Mana Yatri, has raised $11 million (approximately Rs 92 crore) in a pre-Series A funding round. The investment was led by Blume Ventures and Antler, with participation from Google and other investors.
This funding marks the first venture investment for the Bengaluru-based company.
According to the company, Namma Yatri intends to utilize the funds to advance its technology, research and development, and product innovation efforts. The goal is to empower drivers, integrate public transportation, and enhance customer convenience. By employing direct-to-driver and multimodal transportation models, the company aims to increase driver earnings while providing reliable, affordable, seamless, and sustainable mobility solutions.
In April, Juspay, a payments firm, spun off its ride-hailing subsidiary, Namma Yatri, into a separate entity named Moving Tech Innovations Limited. This new entity is led by Juspay’s Chief Growth Officer Shan M S and Chief Product Officer Magizhan Selvan.
Moving Tech launched Namma Yatri in Bengaluru in 2022. The suite of apps is fully open-source, features open data metrics, and is part of the ONDC Network.
The company’s mission is to develop empathetic products and technologies that are significantly better. By collaborating with the community (Samaaj), government (Sarkar), and business (Bazaar), Moving Tech aspires to create an impact similar to UPI in India and Linux worldwide. This funding is expected to drive further innovation and growth.
Moving Tech currently has a user base of 7 million and 400,000 drivers. The company operates in 8 cities and towns and has facilitated 46 million trips.
Recently, Namma Yatri introduced zero-commission auto and cab rentals in Bengaluru and Chennai, with plans to extend this service to Delhi-NCR. This initiative is aimed at challenging competitors and market leaders such as Ola, Rapido, and Uber, which have also introduced zero-commission models for auto drivers.
