- Moving Tech raises Rs 91 crore to fund technology, R&D, and product innovations for public transportation system
- Funds will be used to develop an integrated, digitized, and open transportation system
- Moving Tech aims to increase driver earnings and provide reliable, affordable, and sustainable mobility solutions
- Namma Yatri and its family of apps are open-source and part of the ONDC Network
- Moving Tech is focused on building inclusive, efficient, and sustainable mobility for the future
Funding the Future: Namma Yatri’s Vision to Fund Technology R&D
In a significant move towards revolutionizing the public transportation sector, Namma Yatri, a subsidiary of Moving Tech, has secured a substantial investment of Rs 91 crore to fund technology, R&D, and other critical aspects. This funding, amounting to $11 million, comes as part of a pre-Series A round led by prominent investors like Blume Ventures and Antler, with Google and other stakeholders also participating in the initiative.
Driving Innovation: Investing in Tech and R&D
The infusion of funds into Namma Yatri is primarily aimed at fueling technological advancements and research and development endeavors within the company. By prioritizing innovation in these areas, Moving Tech intends to develop an integrated, fully digitized, and open public transportation system that can rival the convenience and seamlessness offered by cab or auto travel services. The ultimate goal is to enhance the attractiveness of public transport options and steer individuals towards more sustainable mobility choices.
The focus on technology and R&D reflects Moving Tech’s commitment to leveraging cutting-edge solutions to address the evolving needs of the transportation landscape. Through strategic investments in these areas, the company aims to drive forward-thinking initiatives that will not only benefit commuters but also empower drivers and optimize the overall transportation experience.
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A Sustainable Approach: Empowering Drivers and Enhancing Commuter Convenience
One of the key objectives of the funding received by Namma Yatri is to empower drivers and enhance commuter convenience through the deployment of innovative solutions. By embracing a direct-to-driver approach and implementing multimodal transportation models, Moving Tech seeks to boost driver earnings while simultaneously offering commuters reliable, affordable, and sustainable mobility options.
The emphasis on sustainability underscores Moving Tech’s holistic approach towards fostering a greener and more efficient transportation ecosystem. By integrating public transportation services and promoting driver welfare, the company aims to create a win-win scenario that benefits both stakeholders and contributes to the larger goal of promoting environmentally conscious mobility solutions.
Charting the Course Ahead: Namma Yatri’s Growth Trajectory
Since its inception in 2020 as a spin-off from Juspay, Moving Tech has made significant strides in the mobility sector, culminating in the launch of Namma Yatri in Bengaluru in 2022. The company’s family of apps, including Yatri Sathi, Yatri, and Mana Yatri, are built on the BECKN/ONDC protocol and are fully open-source, reflecting Moving Tech’s commitment to transparency and collaboration.
With a presence in 8 cities and towns, Moving Tech has facilitated an impressive 46 million trips, resulting in Rs 7 billion in driver earnings without commissions. The company boasts a substantial user base of 7 million and 4,00,000 drivers, indicating a rapid expansion and growing market influence. By aligning its vision with the principles of Digital Public Infrastructure (DPI) and prioritizing sustainable transportation solutions, Namma Yatri is poised to shape the future of mobility in India and beyond.
The infusion of Rs 91 crore into Namma Yatri marks a significant milestone in Moving Tech’s journey towards transforming the public transportation sector through technology, R&D, and innovation. By prioritizing sustainability, empowering drivers, and enhancing commuter convenience, the company is not only reshaping the mobility landscape but also setting a new standard for inclusive, efficient, and sustainable transportation solutions.
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