Google invests in Indian open-source app Namma Yatri that rivals Ola, Uber: Report
Google invests $11 million in Indian ridesharing app Namma Yatri which connects customers with auto-rickshaws and cab drivers without charging commission fees.
Google has invested in Moving Tech, the parent company of the Indian open-source ridesharing app Namma Yatri, it was reported. The Bengaluru-based startup raised $11 million in a pre-Series A funding round and Google committed to investing $10 billion in India in this round, TechCrunch reported. Namma Yatri operates on government-backed initiative Open Network for Digital Commerce (ONDC).
Read more: Buying land in Noida becomes more costly as allotment rates hiked by 6%
Namma Yatri does not charge commission fees unlike Uber and Ola but it connects customers with auto-rickshaws and cab drivers for a small monthly fee from its driver partners. Uber and Ola charge drivers 25 per cent-30 per cent of the ride cost and have not joined the ONDC network.
Read more: Milky Mist looks at ₹20,000 crore IPO to take on Amul and expand to North India
Namma Yatri was launched in 2022 and has completed over 46 million rides across multiple Indian cities.
Moving Tech was incubated by Juspay, a SoftBank-backed financial services company.
