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Rocket Internet backed Tripda raises $11 mn to support global expansion plans

Online
ride-sharing startup Tripda has raised $11 million in Series A funding
round by Rocket Internet and other investors.

Online
ride-sharing startup Tripda has raised $11 million in Series A funding
round by Rocket Internet and other investors.

The company plans
to use the new round of funding to expand its global operations and grow its
user base across 13 countries where it operates, as well as continuing to
develop its web and mobile product for multiple markets, reports YourStory.

Tripda, which
connects people who need rides with people who have empty car seats, fills the
important long-distance travel market as a perfect alternative to buses, trains
and short flights.

Founded in 2014,
Tripda is a global platform rapidly expanding throughout Asia, Latin America
and North America. Tripda connects people making similar trips so that everyone
wins: the driver, the passenger and the environment.  Tripda is
backed by Berlin-based and recently listed Rocket Internet, the world’s largest
Internet platform outside of China and the United States, which identifies and
builds proven Internet business models and transfers them to new, underserved
or untapped markets where it seeks to scale them into market leading online
companies.

“We are very
grateful for the continued confidence of Rocket Internet and the backing by a
prominent New-York based investor. The investment is a clear recognition of our
leading regional footprint and an affirmation of the growth strategy and
potential of our business,” Pedro Meduna, Co-Founder and CEO of Tripda was
quoted in YourStory as saying.

“We will be investing significant amount in
sprucing up technology for our Indian users,” added Pedro. The company is
targeting to create awareness of Tripda among 18-35 age group.

Available
through web and mobile app platforms for iOS and Android, Tripda verifies
drivers and passengers to ensure security, safeguards user privacy, and even
offers a “Ladies Only” option for women seeking all-female rides.

Talking about
challenges, Pedro outlined in the report that creating awareness about benefits
of carpooling is a big challenge. Currently, the company is focusing in Delhi,
Mumbai and Pune region and gradually will foray to other cities in India.

Tripda recently
started offering its services in Chandigarh.
This is the fourth city that the company will be operational in just three
months after its launch.

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