2 months ago
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Google has joined investors backing Namma Yatri, an open-source ride-sharing app in India that is eroding market share from Uber and Ola with its no-commission model.
The Android developer, which has pledged to invest $10 billion in India, took part in Namma Yatri’s $11 million pre-Series A funding round. Blume Ventures and Antler co-led the investment, the Bengaluru-based startup said in a statement.
Namma Yatri, whose parent firm is Moving Tech, works atop of Open Network for Digital Commerce, an interoperable e-commerce scheme backed by the Indian government.
Namma Yatri is operational in more than half a dozen Indian cities, where it has serviced 46 million rides since its launch in 2022, according to its public dashboard.
“Moving Tech is at the forefront of transforming mobility with a fresh and innovative model,” said Karthik Reddy, Partner at Blume Ventures, in a statement. “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.”
More to follow.
