Satya Arikutharam’s Post

Namma Yatri case study is a telling story of techno-feudalism. A corporate {JUSPAY} combined with some social-sector organizations (Beckn Protocol and FIDE (previously Beckn Foundation)} to convince an auto-rickshaw driver union leadership {PATTABHI RAMA P L and Rudra Murthy of ARDU} that #nammayatri is "theirs". So, Pattabhi and Rudra Murthy worked like it was "theirs". Toiled like true #startup founders. When the assertion that Pattabhi, Rudra Murthy and ARDU are owners of Namma Yatri was made, there was nothing other than an app that had failed in #kochi. Every ask of Pattabhi and Rudra Murthy to get this agreement on paper was delayed in true startup #hustleculture style. Given that they were new to the flashy office scene of the Koramangala kind, Pattabhi and Rudra Murthy went along. To their detriment. Their efforts paid off and Namma Yatri took off. Took off like a rocket. Success that drew Open Network For Digital Commerce (ONDC) to signup Namma Yatri and take it to many other cities. All's well and that ends well for Juspay. Not so for Pattabhi and Rudra Murthy. This story has been told to me by Pattabhi and Rudra Murthy in the presence of Satya Arikutharam. Last time I wrote something about Namma Yatri on LinkedIn, I was reprimanded by T Koshy for stating something on #socialmedia without having all the facts. I have staked my company's future on #ONDC and have contributed positively to the network, in my opinion. I care for ONDC, the mission of "Democratizing Digital Commerce" and transperancy in governance. I ask the parties tagged in this post to state their positions publicly here so that the full story can be seen. All I know is that calling Namma Yatri an open network is incorrect since one company is running both the seller and buyer apps. And till today, no one has told me which version of the ONDC gateway Namma Yatri uses. I suspect it is a private instance of #beckn gateway that Juspay is running.

Moving Tech, the innovative company behind the community-led mobility apps Namma Yatri, Yatri Sathi, Yatri, and Mana Yatri, has secured $11 million (approximately Rs 92 crore) in a pre-Series A funding round. This investment comes from notable backers including Blume Ventures, Antler, Google, and several other investors. This marks the first venture funding round for the Bengaluru-based company. Namma Yatri plans to utilize the funds to enhance technology, research and development, and product innovations, all aimed at empowering drivers, integrating public transportation, and improving customer convenience. The company’s direct-to-driver and multimodal transportation models are designed to increase driver earnings while offering reliable, affordable, seamless, and sustainable mobility solutions. In April, Juspay, a payments firm, spun off its ride-hailing subsidiary, Namma Yatri, into a new entity named Moving Tech Innovations Limited. This new entity is led by Juspay’s Chief Growth Officer, Shan M S, and Chief Product Officer, Magizhan Selvan. Launched in Bengaluru in 2022, Namma Yatri and its suite of apps are fully open-source, with open data metrics, and are part of the ONDC Network. “With our people-first approach, our goal is to build empathetic products and technologies that are ten times better. By collaborating with the community, government, and businesses, we aspire to create an impact similar to UPI in India and Linux worldwide. This funding will enable us to innovate and grow further," stated Magizhan Selvan and Shan M S in a joint statement. With a user base of 7 million and 400,000 drivers, Moving Tech operates in 8 cities and towns, having facilitated 46 million trips. Recently, Namma Yatri introduced zero-commission auto and cab rentals in Bengaluru and Chennai, with plans to expand this service to Delhi-NCR. This move positions the company to compete with industry leaders Ola, Rapido, and Uber, who have also launched zero-commission models for auto drivers. #NammaYatri #MobilityTech #PreSeriesAFunding #FundingAlert #FundraiserAlert #BlumeVentures #Antler #Google #Investors #TechEnhancement #MobilityIndustry #DirectToDriver #CustomerConvenience #ZeroCommission #AllBoutCorps

🌟 Nigeria’s Tech Scene is Booming! Here’s Who’s Shaping the Future (And We’re Proud to Be Part of It!) 🔥 Nigeria is emerging as a global tech powerhouse, with innovators across industries pushing boundaries. At Go Ride Web Services, we’re excited to be part of this dynamic ecosystem as we work on our Go Ride Delivery Service App and our latest software solutions – Healthhub and Edulink. Let’s take a look at some of the movers and shakers in the Nigerian tech space: 🚀 Flutterwave – The Payment Maestro Like Go Ride is transforming deliveries, Flutterwave is revolutionizing how payments are made. From Lagos to the world, they’re making it easier for businesses to connect and grow. Seamless transactions, global reach – we share the same vision of connecting people through tech. 📱 Kuda Bank – The Mobile Money Champion Just as Go Ride is creating convenience in delivery services, Kuda Bank is transforming banking, providing a fully digital banking experience. Both of us are driven by the same goal – making life easier for users with tech-first solutions that solve everyday challenges. 💊 54gene – Innovating African Healthcare While we’re building Healthhub to revolutionize electronic health records and patient management, 54gene is pioneering healthcare innovation in Africa. Both of us are focused on improving healthcare access and outcomes using cutting-edge technology. 📚 uLesson – Revolutionizing Education, Like We Are! As we work on Edulink to streamline school operations and enhance learning environments, uLesson is reshaping education in Nigeria by providing students with digital learning tools. Together, we’re helping bridge gaps in education through technology. 🚚 Go Ride Web Services – Reinventing Delivery and Beyond Just like the innovators listed above, we at Go Ride Web Services are reimagining how technology can solve everyday problems. Our soon-to-launch Go Ride Delivery Service App will simplify deliveries, while Healthhub and Edulink will bring new efficiencies to healthcare and education sectors. These pioneers, including us at Go Ride, are shaping the future of tech in Nigeria. Stay tuned as we bring you innovative solutions that are changing the game in logistics, education, and healthcare. The future is bright, and we’re excited to be leading the charge! Who else is inspiring you in the tech space? Drop your thoughts below! 🎉 #GoRide #Healthhub #Edulink #NaijaTech #Innovation #Fintech #Healthtech #Edtech #NigerianStartups #Logistics #NigeriaForward

Our country’s next big bet after UPI is the Open Network For Digital Commerce (ONDC); a way of re-inventing e-commerce to level the playing field between online & offline players, loosen the grip of Big Tech and empower the undigitised population. ✨ The ONDC initiative falls under my department which is DPIIT Department for Promotion of Industry and Internal Trade - the same which also houses Startup India. So with the visionary leadership of our Joint Secretary Shri Sanjiv Singh Sir, we thought what better way but to bring together the two marquee initiatives of DPIIT under one roof, which culminated into the ONDC Startup Mahotsav 2024! and what a day, what a win for our startups, and indeed what is going to be a definitive win for our e-commerce market and economy. ☀️ also I happened to moderate a panel with Sanjiv Singh Sir - JS, DPIIT, Secretary General - Quality Council of India(QCI), DMD - SIDBI(Small Industries Development Bank of India), Rikant Pittie - Cofounder EaseMyTrip.com and Anjali Bansal - Founding Partner Avaana Capital ⭐️ Neha Nagpal Aastha Grover Salil Seth Palak Kaur Bhatia Shireesh Joshi Neeraj Adhithya #togetherwethrive #ondc #startupindia

ETGovernment interacted with the leaders of major startups to know about their expectations from the Union Budget. Pranav Bajaj, Co-founder, MeduLance, recognised the indispensable role of ambulances and paramedic sector and urged the government to prioritise strategic investments in these areas to improve response times and overall emergency medical care efficiency. Pranav Bajaj said, 'A key expectation is the revision of the GST structure for ambulance procurement. Currently burdened with a 28% GST, we propose a significant reduction to 0%. This move not only alleviates financial constraints but also incentivises the nationwide enhancement of emergency fleets, contributing to faster and more effective emergency response. We commend the government's progressive stance in exempting customers from GST on emergency services, ensuring immediate medical attention remains accessible without additional financial burdens. We hope this exemption continues, affirming the government's dedication to providing accessible healthcare for all. MeduLance Healthcare views this budget not just as a fiscal adjustment but as an investment in the health and safety of our citizens. We look forward to a budget that not only acknowledges the critical role of emergency services but actively contributes to their enhancement, reflecting a commitment to the well being of the nation.' On February 1, Finance Minister Nirmala Sitharaman will present the interim Union budget in the Lok Sabha. Read more at: https://lnkd.in/gP3UvGKk Startup India Piyush Goyal Ministry of Commerce and Industry, Government of India Nirmala Sitharaman Indian Ministry of Finance #startup #startupbusiness #startupgrowth #startuplife #startupmarketing #startupstrategies #startupindia #startupcompany #startupsuccess #startupfounders #startupecosystem #startuptips #startupideas #startupcommunity

TURNSTAY SECURES $300,000 FUNDING TO EXPAND ACROSS AFRICA TurnStay, a South African travel-focused fintech startup, has secured $300,000 in funding to fuel its expansion into additional African markets. This investment, provided by DFS Lab, DCG in Silicon Valley, and other investors in York, will enable TurnStay to build on its significant momentum and reach new regions across the continent. Founded by seasoned entrepreneurs James Hedley, co-founder of Quicket, and Alon Stern, co-founder of Slide Financial, TurnStay utilizes strategies employed by the world’s largest booking companies. This innovative approach helps reduce payment costs for African merchants and platforms in the travel and tourism sector. By providing customers with the capability to receive direct reservations and cutting card billing costs by up to 70%, TurnStay enhances profitability for travel and tourism enterprises by minimizing commissions paid to online travel agents like Booking.com. “Securing funding from these US investors is a significant endorsement of our business model, which has already processed over ZAR50 million (US$2.8 million) in transactions,” said Stern, CEO of TurnStay. “Our solution offers a localized payment experience, charging clients in their home currency and using familiar payment methods. This has resulted in cost reductions of up to 70 percent for some clients and halved the number of unnecessary failed transactions. With an improved checkout experience, our sales conversion rates have surged.” Stephen Deng, general partner at DFS Lab, praised TurnStay’s potential, noting that the company is poised to create a highly anticipated product for the African travel and tourism market. “We believe the founders are the ideal team to seize this opportunity, blending extensive industry experience with a proven track record of delivering market-leading products,” Deng said. DFS Lab is committed to supporting founders who leverage technology to redefine African digital commerce. “TurnStay addresses a vital niche, and we are confident that their innovations will significantly boost the bottom line for the African travel and tourism sector,” Deng added. #TravelTech #FintechInnovation #AfricanExpansion #TravelAndTourism #StartupSuccess

Moving Tech, which offers community-led #mobilityapps Namma Yatri, Yatri Sathi, Yatri, and Mana Yatri, has raised $11 million in a pre-Series A fundraising round headed by Blume Ventures, Antler, Google, and other #investors. This is the Bengaluru-based company's first #ventureinvestment. Namma Yatri plans to invest the capital in technology, R&D, and product innovations to achieve its objective of empowering drivers, integrating #publictransportation, and improving customer convenience, according to a press statement. The company's direct-to-driver and multimodal transportation models aim to boost driver wages while providing dependable, inexpensive, frictionless, and #sustainablemobility solutions. Juspay sold out its ride-hailing unit, Namma Yatri, in April, forming Moving Tech Innovations Limited. Shan M S, Juspay's chief growth officer, and Magizhan Selvan, the company's chief product officer, will lead the new firm. Moving Tech debuted Namma Yatri in Bengaluru in 2022. Namma Yatri and its family of apps are completely open source, use open data metrics, and are part of the ONDC Network. "With our people-first approach, we aim to create empathic goods and #technology that are 10 times better. By combining with Samaaj (Community), Sarkar (Government), and Bazaar (Business), we hope to have an impact similar to UPI in India and Linux globally. In a joint statement, Magizhan Selvan and Shan M S stated that this money will allow them to continue to innovate and grow. Moving Tech, which has 7 million users and 400,000 drivers, is active in eight cities and towns and claims to have enabled 46 million rides. Namma Yatri has launched zero-commission vehicle and #cabrentals in Bengaluru and Chennai, with ambitions to expand the service to Delhi-NCR. The move will help it compete with rivals and market leaders Ola, Rapido, and Uber. Rapido and Uber have also introduced a zero-commission strategy for auto drivers. https://lnkd.in/fzpnPPW #NammaYatri #FundingRound #BlumeVentures #Digitalization #Sustainability #paymentsfirm #productinnovation #Google #MobilitySolutions #DigitalInfrastructure #StartupNews #TechInvestments Namma Yatri Yatri Sathi Blume Ventures Antler Google

Ola was founded by Bhavish Aggarwal and Ankit Bhati in India in 2011. The company had initially launched operations in Australia and New Zealand during the year 2018. SoftBank-backed ride-hailing giant Ola is reportedly winding up its operations in the UK, Australia and New Zealand, almost six years after expanding its services to international markets. The company trying to focus more on its domestic business ahead of an initial public offering, an OLa spokesperson said, TechCrunch reported. The firm has started sending notifications about its closure to users, confirming that its operations will stop in Australia from April 12. Ola was founded by Bhavish Aggarwal and Ankit Bhati in India in 2011. The company had initially launched operations in Australia and New Zealand during the year 2018. It was a direct competitor of Uber and was available to customers in Sydney, Melbourne, Brisbane, Gold Coast, Perth, Adelaide and Canberra. Ola scaled back its operations across Australia in late 2020, with major staff redundancies and shutting down local driver offices. The company has also been silent on its Australian social media accounts, with no new posts since mid-2021. The spokesperson said the SoftBank-backed ride-hailing startup sees “immense opportunity for expansion in India,” where it operates in hundreds of cities and offers a range of transportation options, including two-wheelers. #infobitup #business #businessnews #ola

India's Youngest Billionaires: Inspirational Stories of Success 1. #KaivalyaVohra (21)    Co-Founder, Zepto    Net Worth: ₹3,600 Cr    Kaivalya Vohra dropped out of Stanford University to co-found Zepto, a grocery delivery startup. 2. #RohanGupta&Family* (25)    Founder, SG FINSERVE    Net Worth: ₹1,300 Cr    Rohan Gupta built SG FINSERVE into a leading financial services company with a focus on providing innovative financial solutions. 3. #VaibhavJain(28)    PNC Infratech Ltd    Net Worth: ₹1,300 Cr    Vaibhav Jain has taken PNC Infratech to new heights, overseeing massive infrastructure projects across India. 4. #HarshaReddyPonguleti(30)    Founder, HRAGHAVA    Net Worth: ₹1,300 Cr    Harsha Reddy Ponguleti turned his vision into reality by establishing HRAGHAVA, a company that has become synonymous with quality and innovation in the real estate sector. His journey is a testament to perseverance and hard work. 5. #AlakhPandey (32)    Founder, Physics Wallah    Net Worth: ₹4,500 Cr    Alakh Pandey, a passionate educator, turned his love for teaching into a successful online platform, Physics Wallah. His affordable and high-quality educational content has helped millions of students across India, making him a true pioneer in the ed-tech space. 6. #AaditPalicha (22)    Co-Founder, Zepto    Net Worth: ₹4,300 Cr    Aadit Palicha, alongside Kaivalya Vohra, co-founded Zepto. His innovative approach and determination to disrupt the grocery delivery market have made Zepto a household name in a very short span of time. 7. Shashvat Nakrani (26)    Co-Founder, BharatPe    Net Worth: ₹1,300 Cr    Shashvat Nakrani co-founded BharatPe, a fintech company that revolutionized the way small businesses handle payments. His platform has empowered millions of merchants across India, making him a key player in the digital payments industry. 8. #RiteshAgarwal (30)    Founder, OYO    Net Worth: ₹1,900 Cr    Ritesh Agarwal started OYO at the age of 19, and within a decade, he transformed it into a global hospitality brand. His relentless drive and innovative business model have made OYO a go-to platform for affordable accommodation worldwide. 9. #AdityaKumarAdityaHalwasia* (30)    Founder, CUPID    Net Worth: ₹1,100 Cr    Aditya Halwasia's company CUPID has made significant strides in the healthcare sector, especially in manufacturing contraceptives. His focus on quality and accessibility has made CUPID a leader in its field. 10. #HarshilMathur&ShashankKumar (33)    Founders, Razorpay    Net Worth: ₹8,700 Cr    Harshil Mathur and Shashank Kumar co-founded Razorpay to simplify online payments for businesses. Today, Razorpay is one of India's leading fintech companies, offering a suite of products that empower businesses to manage their finances seamlessly. #Entrepreneurship #BillionaireMindset #YoungAchievers #StartupSuccess #Innovation #Inspiration #IndiaRising #SuccessStories #BusinessLeadership