Ride aggregator platform Namma Yatri has scrapped any immediate international expansion plans after media reports claimed the company is aiming to expand into the US.
However, the company says its product is ready for international use and has received interest from the Global South and Global North.
“Right now India is a big enough market for us to focus on and then make an impact, so our hands are pretty full, but that doesn’t mean we’re not open to anything international, so wherever there’s a partnership. Especially a driver cooperative or Around local governments who want to run it, I think we’ll be open to that kind of product, and from a platform standpoint, we’re really ready for international,” said Shawn MS, COO and. Co-Founder, Ma Virtual Media Roundtable.
Namma Yatri is currently focused on expanding its services to other cities in India, especially Tier II and III cities. The company will launch its news services in some South Indian markets as well as East Indian states by the next quarter.
At the roundtable, Shaun and co-founder and CEO Magijan Selvan also highlighted how Namma Yatri aims to disrupt the cab-hailing sector through a zero commission model on the Open Network for Digital Commerce (ONDC).
According to the company, it has generated over Rs 1,100 crore in driver revenue and the open network approach is estimated to drive between Rs 51,000 crore and Rs 67,000 crore in additional economic activity.
Namma Yatri is a platform that introduced a non-commission model at a time when Ola Consumers and competitors like Uber charge their drivers a commission on every ride.
Under this model, the company charges its drivers a subscription fee, offering them plans based on their vehicle type and on a daily or per-trip basis.
The company will also look at the next round of funding at the end of the first quarter. “We’ve had a lot of internal interest at this point but we haven’t decided what players, how many, etc.,” Shawn said.
He said that the company will release new products soon.
Namma Yatri last raised $11 million (about Rs 92 crore) in a pre-Series A funding round led by Bloom Ventures and Antler in July this year with participation from Google and other investors.