The Bengaluru-based startup will be using the funds to expand its EV fleet’s footprint in Bengaluru and Delhi NCR while a part of this funding will go towards enhancing its AI engine – VIKI
AI-based electric mobility platform MetroRide has secured 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 announced.
The Bengaluru-based startup will be using the funds to expand its EV fleet’s footprint in Bengaluru and Delhi NCR while a part of this funding will go towards enhancing its AI engine – VIKI.
Founded in 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.
“This fresh infusion of funds indicates the trust and confidence of investors in new-age mobility startups like MetroRide…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”, Girish Nagpal, co-founder and CEO, MetroRide, said.
The company said in a release that it operates through its AI-powered cloud-based application to provide 100 per cent green travel solutions to its customers with an aim to bolster the EV adoption landscape with its electric vehicles.
“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 per cent 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”, Kaaman Agarwal, co-founder and CTO, MetroRide, said.
“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,” Shailesh Powdwal, an investor from the Silicon Valley, who invested in MetroRide’s pre-seed round and also participated in the current seed round, said.
MetroRide claimed that it 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.
