Mobility technology specialist Moving Tech, which launched ride-hailing service Namma Yatri in 2022, has secured $11 million in pre-Series A funding.
The investment in the India-based company was led by Blume Ventures and Antler with Google also participating.
Moving Tech said it plans to invest in technology and product innovation as part of a “vision to empower drivers, integrate public transport and improve customer convenience.”
The company, which is a spin-off from payments technology company Juspay, also operates similar mobility apps Yatri Sathi, Yatri and Mana Yatri, all of which are zero-commission and built on open source technology.
Subscribe to our newsletter below
“Moving Tech is at the forefront of transforming mobility with a fresh and innovative model,” said Karthik Reddy, partner at Blume Ventures.
“We were amazed by the simplicity of what the tech and a robust product can do to solve mass mobility.”
Fady Abdel-Nour and Nitin Sharma, partners at Antler, added: “Namma Yatri’s focus on Digital Public Infrastructure (DPI) is pioneering. They are building the mobility of the future—one that is inclusive, efficient and sustainable.”
Moving Tech’s co-founders Magizhan Selvan and Shan M S said that by “collaborating with Samaaj (community), Sarkar (government), and Bazaar (business), we aspire to create an impact similar to UPI in India and Linux worldwide. This funding will enable us to innovate and grow further.”
Moving Tech is now live in eight cities and towns and said it has facilitated 46 million trips.