Bengaluru-based ride-hailing app Namma Yatri has successfully raised Rs 92 crore ($11 million) in a pre-Series A funding round.
This round was co-led by Blume Ventures and Antler, with significant participation from tech giant Google and several other investors.
Namma Yatri, a subsidiary of fintech startup Juspay under its new entity Moving Tech, plans to utilize the fresh capital to enhance technology, boost driver earnings, and drive product innovation.
The company has also committed to improving customer experience through advancements in research and development.
Launched in Bengaluru in 2022 with the backing of Nandan Nilekani’s Beckn Foundation, Namma Yatri has been recognized for pioneering zero-commission rides. Initially offering its services to auto drivers without any commissions, the platform introduced subscription fees for drivers starting last September.
Expanding its offerings, Namma Yatri launched cab services in Bengaluru in April, directly competing with established players like Ola and Uber.
The platform now provides services in cities like Bangaluru, Kochi, Kolkata, Chennai, Hyderabad, Delhi, Mysuru, and Tumkur.
Namma Yatri aims to create a transparent, efficient, and sustainable transportation ecosystem, aspiring to become the “UPI for mobility.” With its recent funding, the company is set to further its mission and expand its services.
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This funding round marks a significant step for Namma Yatri, which is now positioned to become the first ride-hailing service to pilot auto rentals in India.
As competition in the Indian ride-hailing market intensifies, with the market projected to reach $7.36 billion by 2028, Namma Yatri’s growth and innovation strategies will be crucial in shaping its future success.
