Moving Tech Innovations Limited, the company behind the community-led mobility apps Namma Yatri, Yatri Sathi, Yatri, and Mana Yatri, has successfully raised $11 million (approximately Rs 92 crore) in a pre-Series A funding round. Key investors in this round include Blume Ventures, Antler, and Google, among others. This marks the first venture funding for the Bengaluru-based company.
Namma Yatri plans to allocate the new funds towards advancing technology, research and development, and product innovations. The company’s vision focuses on empowering drivers, integrating public transport, and enhancing customer convenience. Through direct-to-driver and multimodal transportation models, Namma Yatri aims to boost driver earnings while delivering reliable, affordable, and sustainable mobility solutions.
In April, the payments firm Juspay spun off its ride-hailing subsidiary, Namma Yatri, into a separate entity named Moving Tech Innovations Limited. The new entity is led by Juspay’s chief growth officer, Shan M S, and chief product officer, Magizhan Selvan.
Launched in Bengaluru in 2022, Namma Yatri and its family of apps are fully open-source, featuring open data metrics and integration with the Open Network for Digital Commerce (ONDC).
“With our people-first approach, our goal is to build empathetic products and technology 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,” said Magizhan Selvan and Shan M S in a joint statement.
Moving Tech boasts a user base of 7 million and 400,000 drivers, operating in 8 cities and towns, and has facilitated 46 million trips. Recently, Namma Yatri introduced zero-commission auto and cab rentals in Bengaluru and Chennai, with plans to expand to the Delhi-NCR region. This strategic move positions the company to better compete with industry rivals such as Ola, Rapido, and Uber, who have also launched zero-commission models for auto drivers.
