Tummoc Raises $540,000 In Seed Funding Round
The startup aims to use the funds in growth, product development, team building, and technology enhancement
Bengaluru-based tech startup Tummoc on Monday announced to have completed its Seed funding round of $540,000 from angel investors. The round has been led by angel investors like Vineet Singh, Krishna D, Deependra Bisht, and Alan Aim.
Tummoc aims to use the funds in growth, product development, team building, and technology enhancement. This fund will give a fillip to Tummoc’s future expansion plans with a target to launch in 10 major cities by the end-2021.
Tummoc is gaining traction as India’s first transit platform exclusively designed and curated for real-time and accurate public transport information within a city. They are helping users to discover the fastest and cheapest route, and the estimated cost of travel from source to destination.
“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. 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 Mallick, chief executive officer and co-founder, Tummoc.
Tummoc has facilitated more than 120,000 rides since its inception and has now set its sights on becoming the best last-mile connectivity company in the country.
They are creating an ecosystem covering buses, metros, autos, bikes, and other private riding services, with a mission to provide a cheap and hassle-free traveling experience for daily commuters.
They want to bring a commute revolution in India by reverse-engineering the trend of decreasing public transport usage in India. They are the harbinger of a smart cashless travel transition for urban commuters, the startup claimed.