Transferring Tech originated from Juspay, a number one funds firm in India recognized for its contributions to the BHIM app, UPI SDK, OCEN/GeM SAHAY, and the Beckn/Namma Yatri tasks.
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Transferring Tech, the corporate behind India’s community-led mobility apps Namma Yatri, Yatri Sathi, Yatri, and Mana Yatri, has lately secured USD 11 million (INR 92 Cr) in pre-Sequence A funding. This funding spherical was led by Blume Ventures and Antler, with participation from Google and different traders. The capital might be used to empower drivers and improve commuter comfort by means of Transferring Tech’s direct-to-driver and multimodal transportation fashions, whereas specializing in rising driver earnings and providing dependable, inexpensive, and sustainable mobility options.The mobility journey for Transferring Tech began in 2020 with Yatri, India’s first open mobility app developed on the BECKN/ONDC protocol. Following this, Namma Yatri was launched in Bengaluru in 2022. These initiatives align with Transferring Tech’s dedication to Digital Public Infrastructure (DPI). The corporate’s community-first mannequin goals to enhance service high quality for passengers, increase driver revenue, and scale back buyer prices. Namma Yatri and its related apps are open-source and have open information metrics built-in into the ONDC Community. The corporate goals to create a clear, environment friendly, and sustainable transportation ecosystem analogous to the “UPI for mobility.”Karthik Reddy, Associate at Blume Ventures, expressed his assist for the corporate’s imaginative and prescient, saying, “Transferring Tech is on the forefront of reworking mobility with a contemporary and progressive mannequin. We had been amazed by the simplicity of what the tech and a strong product can do to unravel mass mobility. We’re glad to companion with an distinctive workforce and again their grand imaginative and prescient.”
Fady Abdel-Nour and Nitin Sharma, Companions at Antler, added, “Namma Yatri’s give attention to Digital Public Infrastructure (DPI) is pioneering. They’re constructing the mobility of the longer term—one that’s inclusive, environment friendly, and sustainable. We’re thrilled to assist them.”
Magizhan Selvan and Shan M S, Co-founders of Transferring Tech, reiterated their dedication to a people-first strategy, “With our people-first strategy, our aim is to construct empathetic merchandise and tech which are 10x higher. By collaborating with Samaaj (Neighborhood), Sarkar (Authorities), and Bazaar (Enterprise), we aspire to create an affect much like UPI in India and Linux worldwide. This funding will allow us to innovate and develop additional.”
Working in eight cities and cities, Transferring Tech has facilitated 46 million journeys and generated INR 7 billion in driver earnings with out taking commissions. The corporate boasts a consumer base of seven million and 400,000 drivers, reflecting its fast progress. The newly raised funds might be directed in the direction of know-how, analysis and growth, and product improvements to create an built-in, totally digitized, and open public transportation system. The goal is to supply a degree of comfort and seamlessness corresponding to cab or auto journey, thereby encouraging elevated utilization of public transport for a sustainable future.
Transferring Tech originated from Juspay, a number one funds firm in India recognized for its contributions to the BHIM app, UPI SDK, OCEN/GeM SAHAY, and the Beckn/Namma Yatri tasks. The corporate’s mission is to supply low-cost, dependable know-how to service suppliers like drivers whereas fostering a sustainable, community-driven mobility ecosystem in India. The zero-commission mannequin on the ONDC community is a cornerstone of its operations. Transferring Tech collaborates with the group (Samaaj), authorities (Sarkar), and enterprise (Bazaar) sectors to construct a sustainable future.
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