"Ola, Uber challenger Namma Yatri is in discussions to raise $10-15 million in its debut funding round."

Namma Yatri, a commission-free ride-hailing app, is in the final stages of negotiations to secure around 10-15 million USD in its inaugural funding round. The development comes shortly after the company split from JusPay, the Softbank-backed payment infrastructure company, which originally launched and managed the mobility project.

The company is increasing its ownership stake by utilizing the inactive entity Moving Tech Innovations Limited... An insider familiar with the situation stated that Namma Yatri is looking to expand its presence throughout India and enhance its technology to accommodate the increasing growth.

According to two sources familiar with the developments, the company is in talks with Blume Ventures, Singapore-based Antler and Google.

Nima Yatri confirmed that the company is in the process of raising funds but did not share further details.

“We are raising funds, and are engaging with several investors who have shown a strong interest in our vision, approach and business. These discussions are ongoing. As of now, we have not concluded our investment round and are therefore not in a position to share funds,” a Nama Yatri spokesperson said. Transparency and We Will Share Updates as things progress.

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