MaaS platform Tummoc raises $1M in a Pre-Series A round led by IPV

Tummoc, a multi-modal connectivity platform, has raised $1 million in a Pre-Series A round led by Inflection Point Ventures (IPV).

The funds will be utilized to establish, promote and implementation of the National Common Mobility Ticketing (NCMT) system across Tier 1 and Tier 2 cities in India. It 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.

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, “Urbanization brings with it related challenges of traffic and pollution as experienced in large cities of other developed nations like US, UK, etc where use of public transportation is far more prevalent.  We expect a similar shift in major Indian metros as well. The government is doing its part with improving the overall infrastructure and ideas like Tummoc are expected to play a big part in this process. Traveling 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 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 will 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”.

The Indian transit market, with approximately 75 million daily commuters and a market value of $20 billion, presents a significant opportunity for Tummoc. The company 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.