AI Powered Mobility Platform MetroRide Secures Seed Funding From Global Investors
MetroRide, India's first AI-based electric mobility platform, announced today seed funding from angel investors in Silicon Valley, New Jersey, and India, including senior global executives such as Shailesh Powdwal, Sudhir Pai, Bhagirath Tanna, and successful serial entrepreneur Sushant Divakar.
The funds will be used to expand the footprint of its all-green and all-electric fleet in Bengaluru and Delhi NCR. A portion of this funding will be used to improve its AI engine, VIKI.
Girish Nagpal and Kaaman Agarwal founded the company in 2020 to solve the problem of first and last-mile connectivity to high-frequency destinations such as corporate parks, metro stations, educational hubs, and so on. The company operates through its AI-powered cloud-based application to provide its customers with 100 percent green travel solutions.
With its electric vehicles, MetroRide also hopes to improve the EV adoption landscape.
“This fresh infusion of funds indicates the trust and confidence of investors in new-age mobility startups like MetroRide. Unlike the other ride hailing platforms our shared e-mobility solution is built for Affordable Daily Commute. We are excited and humbled to have received this funding, especially during these testing times. Today, we are asking people to give up their fossil fuel transport system and embrace the EV revolution with love”, said Girish Nagpal, CoFounder & CEO, MetroRide.
“With three core objectives – “Scalability, Automation and Connected experience”, AI is not an option for us. Our AI engine VIKI is at the heart of everything we do. This 100 percent cloud-based mobile application helps commuters to find a quick and hassle-free EV ride. Further, we are the only startup to solve customer safety by using AI-Based Fraud Detection systems. The new investment will be used for further strengthening the technology solutions, and enabling rapid expansion”, says Kaaman Agarwal, Co-founder & CTO, MetroRide.
“What excited us was the approach MetroRide has taken to address this global problem of Urban Commute using technology and sustainability as its core.Even during the COVID times, the company has crossed many commendable milestones. We are very happy to be a part of this journey with MetroRide’s passionate & competent team.” Says Shailesh Powdwal, an investor from the Silicon Valley, who invested in MetroRide’s pre-seed round and also participated in the current seed round.
MetroRide has served 60,000 customers in just 6 months, with an average wait time of 2.01 minutes per ride. MetroRide is expanding at a rate of 20% per week. The startup, which was founded with the intention of addressing problems related to climate change, attributes its success to the enthusiastic response of consumers.
NASSCOM's NIPP Mobility Challenge 2020, “Act4Green”-India & UK Govt's Cleantech Cohort, Climate Launchpad are just a few of the national and international awards and accolades the company has received. The company was incubated by IIM Bangalore's NSRCEL and NASSCOM's 10000 Startups.”
The funds will be used to expand the footprint of its all-green and all-electric fleet in Bengaluru and Delhi NCR. A portion of this funding will be used to improve its AI engine, VIKI.
Girish Nagpal and Kaaman Agarwal founded the company in 2020 to solve the problem of first and last-mile connectivity to high-frequency destinations such as corporate parks, metro stations, educational hubs, and so on. The company operates through its AI-powered cloud-based application to provide its customers with 100 percent green travel solutions.
With its electric vehicles, MetroRide also hopes to improve the EV adoption landscape.
“This fresh infusion of funds indicates the trust and confidence of investors in new-age mobility startups like MetroRide. Unlike the other ride hailing platforms our shared e-mobility solution is built for Affordable Daily Commute. We are excited and humbled to have received this funding, especially during these testing times. Today, we are asking people to give up their fossil fuel transport system and embrace the EV revolution with love”, said Girish Nagpal, CoFounder & CEO, MetroRide.
“With three core objectives – “Scalability, Automation and Connected experience”, AI is not an option for us. Our AI engine VIKI is at the heart of everything we do. This 100 percent cloud-based mobile application helps commuters to find a quick and hassle-free EV ride. Further, we are the only startup to solve customer safety by using AI-Based Fraud Detection systems. The new investment will be used for further strengthening the technology solutions, and enabling rapid expansion”, says Kaaman Agarwal, Co-founder & CTO, MetroRide.
“What excited us was the approach MetroRide has taken to address this global problem of Urban Commute using technology and sustainability as its core.Even during the COVID times, the company has crossed many commendable milestones. We are very happy to be a part of this journey with MetroRide’s passionate & competent team.” Says Shailesh Powdwal, an investor from the Silicon Valley, who invested in MetroRide’s pre-seed round and also participated in the current seed round.
MetroRide has served 60,000 customers in just 6 months, with an average wait time of 2.01 minutes per ride. MetroRide is expanding at a rate of 20% per week. The startup, which was founded with the intention of addressing problems related to climate change, attributes its success to the enthusiastic response of consumers.
NASSCOM's NIPP Mobility Challenge 2020, “Act4Green”-India & UK Govt's Cleantech Cohort, Climate Launchpad are just a few of the national and international awards and accolades the company has received. The company was incubated by IIM Bangalore's NSRCEL and NASSCOM's 10000 Startups.”
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