MetroRide Secures Seed Funding
Opportunity India Desk
Aug 13, 2021 -
2 min read
AI-based electric mobility platform MetroRide, on Thursday announced a 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.
“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, co-founder and chief executive officer, MetroRide.
The funds will be used to expand its all green and 100 per cent EV fleet’s footprint in Bengaluru and Delhi-NCR. A part of this funding will go towards enhancing its AI engine – VIKI.
“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,” shared Kaaman Agarwal, co-founder and chief technology officer, MetroRide.
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Founded in the year 2020 by Girish Nagpal and Kaaman Agarwal, the company solves the problem of first and last-mile connectivity to high-frequency destinations like Corporate parks, Metro stations, Educational hubs, etc. The company operates through its AI-powered cloud- based application to provide 100 percent green travel solutions to its customers. MetroRide also
aims to bolster the EV adoption landscape with its electric vehicles.
"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 and competent team,” added Shailesh Powdwal, investor.
With just 6 months since its launch, MetroRide has catered to 60,000 customers with an average of 2.01 minutes of wait time per ride. MetroRide is growing at the rate of 20 per cent every week. Incepted with an intent to tackle problems linked to climate change, the startup attributes its success to the enthusiastic response of consumers.
