Ride aggregator platform Namma Yatri has dispelled any immediate international expansion plans after media reports claimed that the company was eyeing an expansion into the US.
However, the company added that its product is ready for international usage and has received interest from the global south and the global north.
“Right now India is a big enough market for us to focus on and then make the impact here, so our hands are quite full, but it doesn’t mean that we are not open for any international, so wherever there is a partnership, especially around driver cooperatives or local governments who wants to kind of run this, I think we will be open for that kind of a product, and from a platform point of view, we are truly ready for international,” said Shan M S, COO and Co-founder, at a virtual media roundtable.
Namma Yatri is currently focused on expanding its services to other cities in India, especially in Tier II and III cities. The company will launch its news services in a few South Indian markets as well as a couple of East Indian states by the next quarter.
At the roundtable, Shan and Co-founder and CEO Magizhan Selvan also highlighted how Namma Yatri is aiming to disrupt the cab-hailing sector through its zero commission model on Open Network for Digital Commerce (ONDC).
According to the company, it has generated over Rs 1,100 crore in driver earnings and the open network approach is projected to drive between Rs 51,000 crore and Rs 67,000 crore in additional economic activity.
Namma Yatri was one of the platforms that introduced a non-commission model at a time when its competitors like Ola Consumer and Uber charged their drivers a commission on each ride.
Under this model, the company charges a subscription fee from its drivers, offering them plans according to their vehicle type and on a daily or per-trip basis.
The company will also look at another round of funding by the end of the first quarter. “We’ve got a lot of inbound interest at this point but we have not decided on what kind of a player, how much, etc,” said Shan.
He added that the company will also launch new products soon.
Namma Yatri last raised $11 million (about Rs 92 crore) in a pre-Series A funding round led by Blume Ventures and Antler, with participation from Google and other investors in July this year.
