Dhaka, Bangladesh – Bangladeshi technology startup Jatri announced that it has raised an undisclosed amount in its seed funding round backed by Superangel, Falcon Network, Tahseen Consulting, and leading angel investors.
The seed round is being viewed as a watershed moment for the country’s rapidly growing digital economy in achieving global attention. With the fresh capital, Jatri has announced plans to scale regionally and globally.
Jatri was founded in early 2019 by Aziz Arman, Khondoker Taswar Zahin, and Zia Ahmed who saw an unmet need to enhance the reliability of public transport to address Bangladesh’s notorious traffic congestion challenges and insufficient public transport system.
According to the United Nations, Dhaka’s traffic congestion reduces GDP by 6 percent annually and pushes commuters to use private vehicles to get around due to lack of public transport coverage and passenger-centric services offered by transport operators – thereby
creating a virtuous cycle that results in more congestion from significant private vehicle use.
Transport surveys show that the primary reason for Bangladeshis not using public transport is unreliability. Jatri views increased bus ridership as a critical solution to enhancing public transport ridership.
The founders have set about redesigning the passenger experience for
public transport users starting with buses. Jatri’s mobile application enables digital tracking and ticketing which significantly enhances the rider experience on buses. Its technology also enables bus operators to enhance schedule adherence and optimize travel times.
The result is a more seamless, reliable, and stress-free passenger experience and enhanced fleet management capabilities for bus operators to significantly improve services levels and bus system performance.
“Our initial target is to significantly enhance the rider experience on buses, but we are just getting started. We plan to look at other transport modalities and view the enhancing of the public transport experience as a global challenge that Jatri’s technology is uniquely positioned to solve. We are creating a solution born in the developing world but also
applicable to address congestion and enhance public transport ridership in the developing and developed world,” said co-founder and CEO Aziz Arman.
In just over 8 months of operation, Jatri has over 30,000 unique users, and its technology has been used by leading bus operators to complete more than 50,000 trips.
The funding raised in its seed round will allow the company to significantly scale-up its services in Bangladesh’s populous metropolitan areas and fast track product development for additional transport modalities, Jatri said. – VCNewsAsia.com