[Funding News] Namma Yatri Secures $11 Mn Funding Round Led by Blume Ventures, Antler, Others

With the help of Blume Ventures and Antler, Namma Yatri has raised Rs 92 crore ($11 million) in her fundraising round. Among the investors in this pre-Series A investment was the tech powerhouse Google.

Juspay spinoff Moving Tech, the parent business, plans to invest the proceeds in technology, research and development, and increasing driver profits.

Because Namma Yatri provided its services to auto drivers for no commission, it gained popularity in Bengaluru during the previous few years. However, the ride-hailing company began charging drivers a subscription fee in September of last year.

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To compete with Ola and Uber, the company introduced taxi services in April in Bengaluru, which is its largest market.

In April, payments company Juspay split off Namma Yatri, a ride-hailing division, into a distinct company called Moving Tech. Juspay's chief growth officer Shan M S and chief product officer Magizhan Selvan are currently in charge of this.

About Namma Yatri

Founded in 2022 by Vimal Kumar and Sheetal Lalwani, Namma Yatri is India’s first ride hailing app built on a truly open network providing complete transparency in ride booking for both drivers and customers.

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