Bengaluru-based Tummoc has raised $540K in its seed funding round from prominent angel investors including Vineet Singh (Founder of HMPL Consulting), Krishna D (Software Development Manager at Amazon), Deependra Bisht (Strategy & Operations at Google), and Alan Aim (Founder of Right Buy U, UK).
According to the official statement, the funds will be used for growth, product development, team building, and technology enhancement. It will also be used to fund Tummoc’s plan to launch in 10 major cities by the end-2021.
Hiranmay Mallick, Co-founder of Tummoc, said, “We are delighted to have concluded our seed funding round with capital raised from industry stalwarts who will also serve as a guiding force to help us in charting the road ahead at Tummoc. We will be using the investment to fund the expansion of our operations to other key metro cities in the country including Delhi, Mumbai, Hyderabad, Chennai, Jaipur, Lucknow, and Kochi by end of this calendar year."
Tummoc was founded in 2016 by Hiranmay Mallick and Monalisha Thakur to provide help Bengaluru citizens find multi-mode public transport information and reasonably priced commutation options for short distances. Narayan Mishra joined the founding team later.
The startup has a multi-modal commute platform to help commuters get accurate bus/metro information, learn about public transport routes, and book bike or auto rides. The services are currently available in Bengaluru and Kolkata.
"Born out of the understanding that many commuters are unable to effectively use public modes of transportation due to a lack of credible information, we have introduced many additional features since inception that have served to enhance the user experience. We remain committed to simplifying public transport further through constant innovation,” Hiranmay added.
Tummoc had also won the STAMP Challenge in 2018, ELEVATE 2018, organised by the Karnataka government. The startup was also the finalist of the National Startup Award 2020.
The startup claimed to have facilitated more than 120,000 rides since its inception. It is aimed at building an ecosystem covering buses, metros, autos, bikes, and other private riding services, to provide a cheap and hassle-free traveling experience for daily commuters.
Edited by Saheli Sen Gupta
Link : https://yourstory.com/2021/09/funding-bengaluru-based-mobility-startup-tummoc
Author :- Shreya Ganguly ( )
September 20, 2021 at 05:20PM
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