Blume Ventures, Antler Lead USD 11 Mn Investment in Namma Yatri Creator Moving Tech Moving Tech plans to invest the funds in technology, R&D, and product innovation to empower drivers, integrate public transport, and enhance the customer experience.
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Moving Tech, the creator of community-led mobility apps like Namma Yatri, Yatri Sathi, Yatri, and Mana Yatri, has raised USD 11 million (INR 92 crore) in a pre-Series A round led by Blume Ventures and Antler, with participation from Google and other investors.
Moving Tech plans to invest the funds in technology, R&D, and product innovation to empower drivers, integrate public transport, and enhance the customer experience. "Through direct-to-driver and multimodal transportation models, Moving Tech aims to increase driver earnings while providing reliable, affordable, seamless, and sustainable mobility solutions for all," the company said in a statement.
Magizhan Selvan and Shan M S, Co-founders of Moving Tech, said, "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."
In April 2020, Softbank-backed Juspay spun off its mobility business into Moving Tech, now led by Shan M S and Magizhan Selvan.
Moving Tech, originally launched as the Yatri app, debuted Namma Yatri in Bengaluru, Mysuru, Tumkur, and Kochi, and Yatri Saathi in Kolkata. Recently expanding to Chennai, the platform facilitates metro-ticket bookings.
Partnered with Nandan Nilekani's BECKN Foundation and supported by Bengaluru's Auto Rickshaw Drivers' Union, Moving Tech offers an alternative to Ola and Uber, facilitating 46 million trips and generating INR 7 billion in driver earnings across eight cities.
Karthik Reddy, Partner at Blume Ventures, said, "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 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."
