politics

Bengaluru-based Namma Yatri raises $11 million from Google, others

On Jul 17, 2024 By The Hindu Bureau

Bengaluru-based ride booking app Namma Yatri has raised $11 million in its Series A funding round led by Blume Ventures and Antler with participation from Google. The parent company, Moving Tech said it will be using the funds in its research and to boost driver earnings.

The app works on top of Open Network for Digital Commerce or ONDC, an interoperable scheme backed by the Indian government. The app has become fairly popular in Bengaluru by slowly snagging market share from Uber and Ola with a no-commission model. However, the app collects a small monthly fee from its drivers as subscription fee.

In April this year, the company launched its cab services in Bengaluru.

Namma Yatri is operational in more than half a dozen Indian cities including Hyderabad and claims to have completed over 46 million rides since its launch in 2022.

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The startup was incubated by Juspay, a financial services startup backed by Softbank. Juspay spun Namma Yatri into a separate entity Moving Tech in April this year.

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