Tummoc raises USD $1 million in a Pre-Series A round led by Inflection Point Ventures

 

•                  Tummoc is a multi-modal connectivity platform providing end-to-end transit technology to STAs (State Transport Authorities) enabling a single transaction journey to users including journey mapping, mobile ticketing and first-to-last mile connectivity

•                  The funds will be utilized for the implementation of National Common Mobility Ticketing across Tier 1 and Tier 2 cities

•                  Inflection Point Ventures (IPV) has so far invested over INR 550 Cr across 170+ deals

June 27, 2023, India: Tummoc, a multi-modal connectivity platform, has raised USD $1M in a Pre-Series A Round led by Inflection Point Ventures.

WFC, along with others including existing investors Vineet Singh and Krishna D, and new investors Bijay Mishra, Anil Kumar Muthyala, Richard Cobbold, Rajiv Singh, Nagendra KN, Ponavallu Nitin Keshav, Sateeq, Abhishek Kishore Gupta (Alaka Capital) and Sumeet Pathak have also participated in this round.

The 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.

Tummoc is a comprehensive transit technology platform that offers multi-modal connectivity solutions to State Transport Authorities (STAs). It enables users to have a seamless journey experience through a single transaction, incorporating features like intracity journey planning, online bus & metro tickets bookings and convenient first-to-last mile connectivity, everything in one single app.

Rahul Wagh, Managing Director, Inflection Point Ventures, says, “Travelling 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."

Tummoc facilitates information discovery, offers a unified ticketing system, provides convenient first and last-mile connectivity, features a patented solution, and holds the advantage of being the first to enter the market.

Tummoc has been recognized and honored with various awards and accolades, including the prestigious Elevate 2018 by the Government of Karnataka, where they emerged as the winners. They were also winners at STAMP 2018 in Hyderabad by WRI India and Toyota Mobility Foundation, and again at STAMP 2022 in Delhi. Tummoc was recognized as a finalist in the National Startup Award 2020. Additionally, they achieved recognition as a finalist in the IIMC Smart 50, which acknowledges the top 400 startups in India. Tummoc was also recognized as a finalist in the EO Cares program.

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 wil

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".

When considering the transit market in India, it consists of approximately 75 million commuters on a daily basis, with a total market value of $20 billion. Tummoc aims to capture 25% of the market's attention within the next two years. As for the global market size, the information is not available. Looking ahead, it is estimated that the market size in India will reach 90 million users on a daily basis within the next three years.

About Tummoc

Tummoc was founded in 2020 by Hiranmay Mallick, Monalisha Thakur, and Narayan Mishra. It is India’s only Patented Transit Tech Application with multimodal journey planning and ticketing. The company is building MaaS for India by providing a single application for all commute modes and needs.