In a landmark move for India’s mobility sector, Moving Tech, the company behind popular community-led mobility apps such as Namma Yatri, Yatri Sathi, Yatri, and Mana Yatri, has raised $11 million (₹92 Cr) in a pre-Series A funding round. This round was led by Blume Ventures and Antler, with additional support from Google and other investors. This significant investment underscores Moving Tech’s mission to empower drivers, integrate public transportation, and enhance commuter convenience through its innovative mobility solutions.
A New Chapter in Moving Tech’s Journey
Since its inception in 2020, Moving Tech has been at the forefront of transforming India’s mobility landscape. Initially launched as a spin-off from Juspay, Moving Tech introduced India’s first open mobility app, Yatri, which was built on the BECKN/ONDC protocol. Following this, the company launched Namma Yatri in Bengaluru in 2022, further cementing its commitment to Digital Public Infrastructure (DPI). By adopting a community-first approach, Moving Tech aims to elevate service quality for passengers, boost driver income, and reduce customer costs. The company’s family of apps, which are fully open-source and part of the ONDC Network, strive to create a transparent, efficient, and sustainable transportation ecosystem, aspiring to be the “UPI for mobility.”
Investment to Propel Growth and Innovation
Karthik Reddy, Partner at Blume Ventures, expressed his enthusiasm for Moving Tech’s innovative approach: “Moving Tech is at the forefront of transforming mobility with a fresh and innovative model. 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.”
Fady Abdel-Nour and Nitin Sharma, Partners at Antler, highlighted the pioneering nature of Namma Yatri’s focus on Digital Public Infrastructure: “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. We are thrilled to support them.”
Magizhan Selvan and Shan M S, Co-founders of Moving Tech, emphasized the company’s dedication to sustainable and inclusive transportation solutions: “With our people-first approach, our goal is to build empathetic products and tech that are 10x better. 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.”
Impressive Milestones and Future Plans
Moving Tech has already made significant strides in the mobility sector, being operational in 8 cities and towns, facilitating 46 million trips, and generating ₹7 billion in driver earnings without commissions. With a user base of 7 million and 400,000 drivers, the company is on a rapid growth trajectory. The newly secured funds will be strategically invested in technology, research and development, and product innovations. These efforts aim to develop an integrated, fully digitized, and open public transportation system that matches the convenience and seamlessness of cab or auto travel, thereby increasing the usage of public transport and moving towards a sustainable future.
Moving Tech’s recent $11 million pre-Series A funding round marks a significant milestone in its journey to revolutionize mobility in India. With strong backing from leading investors and a clear vision for the future, Moving Tech is poised to create a transformative impact on the transportation sector. By continuing to innovate and enhance its community-led mobility solutions, the company aims to provide reliable, affordable, and sustainable mobility options for all, ultimately reshaping the way India moves.
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