Transit Technology Platform Tummoc Raises $1 Million Funding
Tummoc, a SaaS-based transit technology platform, has raised $1 million (Rs 8.2 crore) in a pre-Series A funding round from Inflection Point Ventures.
As per the startup, the freshly raised funds will be used for hiring talent, development of technology and software, expansion of the system, marketing initiatives, expansion into tier II and III cities and administrative requirements.
Tummoc | Transit Technology Platform
Founded by Hiranmay Mallick, Monalisha Thakur and Narayan Mishra in 2020, Tummoc is a SaaS-based transit technology platform that provides state transport authorities (STAs) with multi-modal connectivity solutions.
The startup helps track and find actionable & accurate intracity travel information for the bus/metro/suburban rail, enabling users to have a seamless journey experience through a single transaction incorporating features like intracity journey planning, online bus and metro tickets bookings and convenient first-to-last mile connectivity, all in one single app.
Speaking about the development, Hiranmay Mallick, Co-founder of Tummoc, said,
“We’re grateful to have completed our pre-series-A round. The funds acquired will be utilised in MaaS (Mobility as a Service) implementation for Bengaluru and Delhi, which will be the first-of-its-kind solution in India. MaaS integrates multiple modes into a single journey ticket. This includes the first, middle and last mile. It will enable 15 million daily commuters across Bengaluru and Delhi to avail a single mobility ticket.”
As per Hiranmay, the startup plans to take MaaS to 10+ cities. Additionally, the startup will enable ITM (Integrate Transport Management) for key state and city transit agencies to help them digitize their transit infrastructure, thus building Transit for India.
The transit technology platform facilitates information discovery, offers a unified ticketing system, provides convenient first and last-mile connectivity, features a patented solution, and holds the advantage of being the first to enter the market.
Commenting on the development, Rahul Wagh, Managing Director of Inflection Point Ventures, says,
“Traveling with ease is one and the most vital element for any commuters, this is exactly what Tummoc intends to deliver with its multi-modal connectivity platform. This platform offers all the key services needed for local travel. We at IPV look forward to providing strategic support and help Tummoc penetrate new regions.”
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