Namma Yatri Raises $11 Million to Revolutionize Mobility and Build Seamless Public Transportation

Bengaluru, 16 July 2024 – Moving Tech, the company behind India’s leading community-led mobility apps Namma Yatri, Yatri Sathi, Yatri, and Mana Yatri, has raised $11 million (₹92 Cr) in a pre-Series A funding round led by Blume Ventures and Antler, with participation from Google and other investors. This investment marks a new chapter in Moving Tech's mission to empower drivers, integrate public transportation, and enhance commuter convenience. Through direct-to-driver and multimodal transportation models, Moving Tech aims to increase driver earnings while providing reliable, affordable, seamless, and sustainable mobility solutions for all.

Moving Tech, a spin-off from Juspay, embarked on its mobility journey in 2020 with India’s first open mobility app, Yatri, built on the BECKN/ONDC protocol. Subsequently, it launched Namma Yatri in Bengaluru in 2022. Committed to Digital Public Infrastructure (DPI), its community-first model elevates service quality for passengers, boosts driver income, and reduces customer costs. Namma Yatri and its family of apps are fully open-source, with open data metrics, and part of the ONDC Network. These apps aim to create a transparent, efficient, and sustainable transportation ecosystem, aspiring to be the "UPI for mobility."

Karthik Reddy, Partner at Blume Ventures, said, "Moving Tech is at the forefront of transforming mobility with a fresh and innovative model. We were amazed by the simplicity of what the tech and a robust product can do to solve mass mobility. We are glad to partner with an exceptional team and back their grand vision." Fady Abdel-Nour and Nitin Sharma Partners at Antler, added, "Namma Yatri’s focus on Digital Public Infrastructure (DPI) is pioneering. They are building the mobility of the future—one that is inclusive, efficient, and sustainable. We are thrilled to support them.”

Magizhan Selvan and Shan M S, Co-founders of Moving Tech, emphasized the company’s commitment to sustainable transportation, "With our people-first approach, our goal is to build empathetic products and tech that are 10x 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."

Moving Tech is live in 8 cities and towns, having facilitated 46 million trips, generating ₹7 billion in driver earnings without commissions. With a user base of 7 million and 400,000 drivers, the company is growing rapidly. The new funds will be invested in tech, R&D, and product innovations to develop an integrated, fully digitized, and open public transportation system that matches the convenience and seamlessness of cab or auto travel, thereby increasing the usage of public transport towards a sustainable future.

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Media contact: Ishavasyam Dash, isha.dash@antler.co

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About Moving Tech: MovingTech, a mobility-focused tech company, spun off from Juspay, India’s leading payments company. Juspay is a key contributor to multiple open and ecosystem initiatives like the BHIM app, UPI SDK, OCEN/GeM SAHAY, and Beckn/Namma Yatri. MovingTech aims to empower service providers like drivers with population-scale, low-cost, reliable technology while building a sustainable, community-driven mobility ecosystem in the country. Namma Yatri and its family of mobility apps, including Yatri, Mana Yatri, and Yatri Sathi, are India’s leading open mobility apps with a zero-commission model on the ONDC network. MovingTech collaborates with Samaaj (Community), Sarkar (Government), and Bazaar (Business) to build a sustainable future. To know more, visit www.nammayatri.in 

About Blume Ventures: Blume Ventures is an early-stage India-focused venture fund that backs startups with both funding as well as active mentoring. Blume typically invests in Seed and pre-Series A rounds in tech-led startups led by founders obsessed with solving hard problems for the Indian market and from India for the world. Blume presently invests out of Fund IV, a $290M vehicle supported by leading institutional LPs and family offices. With the close of Fund IV, Blume now has an AUM (Assets Under Management) of over $650m, managed by an investment team based across Bengaluru, Mumbai, Delhi, and San Francisco. Some of the leading startups we have backed included Purplle, Unacademy, Spinny, Slice, Carbon Clean, and GreyOrange.

About Antler: Antler is the investor backing the world’s most driven founders, from day zero to greatness. Founded on the belief that people innovating is the key to building a better future, we partner with people across six continents to launch and scale high-potential startups that address meaningful opportunities and challenges. Knowing that exceptional founders can come from anywhere with any background, we have offices in 27 cities, including Austin, New York, London, Berlin, Stockholm, Bangalore, Jakarta, Singapore, Seoul, Tokyo, and Sydney. Our global community backs people from the beginning with co-founder matching, deep business model validation, initial capital, expansion support, and follow-on funding. Antler also provides scale-up capital from Series A onwards to companies through its $285M global fund, Elevate. Fueled by a personal passion that goes beyond traditional investing, we have helped create and invest in more than 1000 startups across a wide range of industries and technologies, with the goal of backing more than 6,000 by 2030.