Tuesday, December 12, 2023
HomeInsightFunding Alert Connectivity Startup Tummoc Secures $1mn in Pre-series A Round

[Funding alert] Connectivity Startup Tummoc Secures $1mn in Pre-series A Round

An investment round led by Inflection Point Ventures secured $1 million for the connectivity platform Tummoc.

An investment round led by Inflection Point Ventures secured $1 million for the connectivity platform Tummoc.

The money received will be used to pay for a variety of things, including hiring and training staff, developing technology and software, expanding the system, launching marketing campaigns, and meeting administrative needs, as per reported by BW Disrupt.

Read also – Lumikai Launches $50mn Fund II, Plans To Invest In Gaming & Interactive Media

Hiranmay Mallick, CEO of Tummoc says, “The funds acquired will be utilised in MaaS (Mobility as a service) implementation for Bengaluru and Delhi which will be the first of its kind solution in India. MaaS integrates multiple modes into a single journey ticket. This includes the first, middle and last mile. It will enable 15 million daily commuters across Bengaluru and Delhi to avail a single mobility ticket. Next, we plan to take this to 10+ cities. Additionally, Tummoc will enable ITM (Integrate Transport Management) for key state and city transit agencies to help them digitise their transit infrastructure,thus building Transit for India.”

For the bus, metro, and suburban rail, Tummoc assists in tracking and locating accurate and useful intracity travel information. Currently only accessible in Bangalore, users may purchase BMTC bus passes directly on the app. Online ticketing will soon be available in additional cities.

Read also – [Funding alert] D2C startup French Crown Secures Rs 8.6 Cr From Velocity

Rahul Wagh, Managing Director, Inflection Point Ventures, says, “Urbanisation brings with it related challenges of traffic and pollution as experienced in large cities of other developed nations like US, UK, etc where use of public transportation is far more prevalent. We expect a similar shift in major Indian metros as well. The government is doing its part with improving the overall infrastructure and ideas like Tummoc are expected to play a big part in this process. Traveling with ease is one and the most vital element for any commuters, this is exactly what Tummoc intends to deliver with its multi-modal connectivity platform. This platform offers all the key services needed for local travel. We at IPV look forward to providing strategic support and help Tummoc penetrate new regions.”

About Tummoc

Tummoc is a multi-modal connectivity platform for State Transport Authorities (STAs). In one app, it offers intracity route planning, online bus and metro ticket bookings, and convenient first-to-last mile connectivity.

Read also – Blume Ventures Announces First Close Of Opportunity Fund At INR 200 Cr

- Advertisment -