Tummoc, a multi-modal connectivity platform, has raised $1M in a Pre-Series A Round led by Inflection Point Ventures.
These funds raised will cover various aspects such as the recruitment and training of personnel, the development of technology and software, the expansion of the system, marketing initiatives, and administrative requirements. In summary, the funds will be utilized to establish and promote the NCMT system, ensuring its successful implementation and operation, the statement said.
Rahul Wagh, Managing Director, Inflection Point Ventures, says, “Urbanization brings with it related challenges of traffic and pollution as experienced in large cities of other developed nations like US, UK, etc where use of public transportation is far more prevalent. We expect a similar shift in major Indian metros as well. The government is doing its part with improving the overall infrastructure and ideas like Tummoc are expected to play a big part in this process. 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.”
Hiranmay Mallick, CEO, Tummoc says, “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. Next, we plan to take this to 10+ cities. Additionally, Tummoc 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”.
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