Tummoc, a Bengaluru, India-based SaaS-based transit technology platform, has secured $1 million (Rs 8.2 crore) in a pre-Series A funding round led by Inflection Point Ventures.
The funding will be utilized for various purposes, including talent acquisition, technology and software development, system expansion, marketing initiatives, expansion into tier II and III cities, and administrative requirements.
Hiranmay Mallick, Co-founder of Tummoc, said, “We’re grateful to have completed our pre-series-A round. The funds acquired will be utilized 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.”
The company aims to expand its Mobility-as-a-Service (MaaS) offering to more than 10 cities. Additionally, the startup plans to enable Integrate Transport Management (ITM) for key state and city transit agencies, helping them digitize their transit infrastructure and contribute to building a robust transit system for India.
Company: Transhelp Technologies Pvt Ltd.
Raised: $1.0M
Round: Pre-Series A
Funding Month: June 2023
Lead Investors: Inflection Point Ventures
Additional Investors:
Company Website: https://tummoc.com/
Software Category: Transit Technology Platform
About the Company: Founded by Hiranmay Mallick, Monalisha Thakur, and Narayan Mishra, Tummoc is a SaaS-based transit technology platform that provides state transport authorities (STAs) with multi-modal connectivity solutions. The company helps track and find actionable & accurate intracity travel information for the buses, metros, and suburban rail systems. Its platform offers various features, including information discovery, a unified ticketing system, convenient first and last-mile connectivity, and a patented solution.
Source: https://thestartuplab.in/transit-technology-platform-tummoc-raises-1-million-funding/