Brazilian carpooling startup Tripda has raised $11 million (approx. 68 Crore) in Series A funding from an undisclosed New York-based venture capital firm and German incubator Rocket Internet, which will be primarily used to fuel expansion in India.
“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,” said Pedro Meduna, co-founder and CEO of Tripda.
The start-up, which made its India debut in November last year, plans to use the funding 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, it said in a statement.
Available through web and mobile app platforms for iOS and Android, Tripda verifies drivers and passengers to ensure security, safeguards user privacy, and even offers a ‘Ladies Only’ option for women seeking all-female rides.
“This funding places a marker in the ground for Tripda. We will continue to invest into our growing community and strive to become the premier carpooling platform in India,” Tripda India Country Manager Nitish Bhushan said.
Earlier this month, French carpooling company BlaBlaCar launched services in India focusing on long-distance travel. The nine-year-old company, which is backed by Accel Partners and Index Ventures, links private car owners with commuters through an online community.