MetroRide raises seed funding from angel investors

By: |
August 12, 2021 3:29 PM

The startup, without disclosing the quantum of capital raised, said the proceeds will be utilised in expanding its all-green and 100 percent EV fleet's footprint in Bengaluru and Delhi-NCR.

fundingA part of this funding will go towards enhancing its AI engine VIKI, MetroRide said. (Representational image)

AI-based electric mobility platform MetroRide on Thursday said it has raised seed funding from angel investors both from the domestic and overseas market. The startup, without disclosing the quantum of capital raised, said the proceeds will be utilised in expanding its all-green and 100 percent EV fleet’s footprint in Bengaluru and Delhi-NCR. A part of this funding will go towards enhancing its AI engine VIKI, MetroRide said in a release.

”MetroRide has received seed funding from angel investors spread across Silicon Valley, New Jersey, and India including senior global executives like Shailesh Powdwal, Sudhir Pai, Bhagirath Tanna and successful serial entrepreneur Sushant Divakar,” the company said.

Founded last year by Girish Nagpal and Kaaman Agarwal, the company helps commuters to find a quick and hassle-free EV ride from first and last-mile connectivity to high-frequency destinations like corporate parks, metro stations, educational hubs, among others. Pudwal had invested in MetroRide’s pre-seed round besides participating in the current seed round, the company said.

”The fresh fund infusion indicates the trust and confidence of investors in new-age mobility startups like MetroRide. We are excited to have received this funding, especially during these testing times,” said Girish Nagpal, Co-founder and CEO, MetroRide.

”Our AI engine VIKI is at the heart of everything we do. This 100 per cent cloud-based mobile application helps commuters to find a quick and hassle-free EV ride. The new investment will be used for further strengthening the technology solutions, and enabling rapid expansion”, says Kaaman Agarwal, Co-founder and CTO, MetroRide.

The company operates through its AI-powered cloud-based application to provide 100 per cent green travel solutions to its customers. MetroRide also aims to bolster the EV adoption landscape with its electric vehicles, it said in the release. MetroRide has catered to 60,000 customers with an average of 2.01 minutes of wait time per ride in just six months of its operations, the company said in the release.

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