IPV leads $1 Mn round in Tummoc

Multi-modal connectivity platform Tummoc has raised $1 million in a pre-Series A round led by Inflection Point Ventures. 

The company plans to utilise the funds for the recruitment and training of personnel, development of technology and software, expansion of the system, marketing initiative and administrative requirements, Tummoc stated in a press release.

Co-founded in 2020 by Hiranmay Mallick, Monalisha Thakur, and Narayan Mishra, 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 and metro tickets bookings and convenient first-to-last mile connectivity, everything in one single app. 

Tummoc says that it facilitates information discovery, offers a unified ticketing system, provides convenient first and last-mile connectivity, features a patented solution, and holds the advantage of being the first to enter the market. Tummoc was recognised as a finalist in the National Startup Award 2020.

The Bengaluru-based startup aims to capture 25% of the market attention within the next two years. 

IPV recently invested in SaaS platform Shipturtle. In April, it backed B2B Supply Chain as a Service (SCaaS) platform Aksum, Artificial intelligence solution provider Cognecto and e-commerce platform Direct2U.