Tripda Funding $11 Million

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.

You May Also Like

Now Indians Can Form One Person Company

Good news for entrepreneurs, now you can form One Person Company (OPC)…
Mukesh Ambani

Silver Lake invests in Jio Platforms

Reliance Industries Limited and Jio Platforms Limited announced today that Silver Lake…
Milk Mantra Raises Rs. 80 Crore In Series C Funding

Odisha Based Milk Mantra Raises Rs. 80 Crore In Series C Funding

Odisha based diary food startup Milk Mantra Dairy Pvt. Ltd. has raised… Raises $30 Million Series E Funding From Tiger Global

Bangalore bases real estate and apartment management portal has raised $30…