Google has joined a group of investors supporting Namma Yatri, an innovative open-source ride-sharing app in India. This app is making waves by challenging Uber and Ola with its unique no-commission model.
Unlike its competitors, Namma Yatri doesn’t charge either riders or drivers for trips. Instead, it sustains itself through a small monthly fee paid by its driver partners. Uber and Ola, in contrast, take a hefty 25-30% commission from each ride.
Namma Yatri is developed by Moving Tech and operates on the Open Network for Digital Commerce, an Indian government-backed platform promoting interoperable e-commerce. Since its launch in 2022, Namma Yatri has facilitated over 46 million rides across more than half a dozen Indian cities, including Bengaluru and Hyderabad.
Originally incubated by Juspay, a SoftBank-backed financial services startup, Namma Yatri benefits from India’s broader “India Stack” initiative. This initiative, driven by the government, aims to digitize the nation’s economy and public services through a set of open APIs for identity, payments, and data sharing.
The goal is to create a cohesive digital infrastructure that serves both public and private sectors efficiently and inclusively.
Google’s participation in Namma Yatri’s $11 million pre-Series A funding round aligns with its $10 billion investment commitment in India.
This funding round was co-led by Blume Ventures and Antler. Karthik Reddy, a Partner at Blume Ventures, praised Moving Tech for its transformative approach to mobility, emphasizing the simplicity and effectiveness of their technology in addressing mass mobility issues.
