Brazilian startup Tripda has raised $11 million in Series A funding led by Rocket Internet and other investors. Tripda entered India in November and connects passengers with drivers who are travelling long distance acting like a carpooling service unlike the other technology-backed cab startups that are hired for shorter rides. Also Read - Uber cab service resumed in 31 cities in India with new Lockdown 4.0 guidelinesAlso Read - Uber launches 'Uber Connect' package delivery service to rival Dunzo and Swiggy Genie
The company plans to use the fresh capital to expand its global operations and grow its user base across 13 countries where it operates, as well as continuing to develop its web and mobile product for multiple markets. CEO Pedro Meduna also said that they will use the capital to expand operations in India. Also Read - Uber to operate 'Essential' cab service to hospitals and pharmacy stores in 4 cities
He told Economic Times, “A lot of this capital will be invested in India to get closer to our uses base. We will also use funds to improve our product and consider expanding to other markets.”
Tripda was founded in Brazil this year and now operates in the US and some Asian markets. In India, it s looking at starting operations in Delhi, Mumbai, Pune and Bangalore initially and will later expand to more cities.
Apart from incubator Rocket Internet, another undisclosed New York-based investor also backed Tripda. We are very grateful for the continued confidence of Rocket Internet and the backing by a prominent New-York based investor. The investment is a clear recognition of our leading regional footprint and an affirmation of the growth strategy and potential of our business, Meduna said in a statement
In India, this service will compete with other services like Uber who work in the similar ride-sharing marketplace. Indian ventures like Meru, Ola Cabs and Tab Cab are very well settled in this space too, giving tough competition to Uber. However, none of them provide carpooling service, and even Uber s carpooling service for short distances, UberPool is not available in India yet.
There is, however, SmartMumbai, which offers car pooling service in Mumbai and Carpooling.in for across the country carpooling service, but they haven t picked up much heat yet.
In wake of the Uber rape case, Tripda also stresses on the fact that they verify drivers and passengers to ensure security and safety of passengers. They even offer a ‘Ladies Only’ option for women seeking all-female rides.