By Sam Bridge
Falcon Network and Tahseen Consulting joined leading angel investors in seed round for online transport platform
Bangladeshi technology start-up, Jatri, has announced it has closed a seed round for an undisclosed amount backed by Dubai-based investors.
Falcon Network and Tahseen Consulting joined leading angel investors – many of whom were early investors and advisors to transport apps like Bolt, Uber, Bird, Angkas and Buseet, Jatri said in a statement.
The seed round is believed to be one of the largest seed rounds ever raised in Bangladesh and Jatri is currently in discussions with other MENA investors to participate in its Series A round.
Its management team is travelling to the UAE later this month with intentions to meet with the Dubai Roads and Transport Authority, Abu Dhabi Department of Transport, and Sharjah Roads and Transport Authority to discuss deployments.
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.
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 optimise travel times.
Jatri said its technology also has use cases for minibuses, electric scooters and bikes, and other emerging transport modalities.
Dr Sayd Farook, co-founder of Falcon Network, said: “Jatri has proven that it has the aptitude to revitalize the public transportation industry in Bangladesh. It has created a pathway for the everyday commuter to benefit from smart solutions, and we believe these solutions have wide ranging applications in many markets in the Middle East and Africa region as well.”
“In Jatri we see a passionate, experienced management team where we believe our capital and expertise can support leveraging technology to transform public transport in Bangladesh and globally,” added Wes Schwalje, chief operating officer of technology advisory and investment firm Tahseen Consulting.
Aziz Arman, co-founder and CEO of Jatri, said: "We are very grateful to be supported by such a prominent team of business builders and investors. Our initial target is to significantly enhance the rider experience on buses, but we are just getting started."
In just over eight months of operation, Jatri has over 30,000 users, and its technology has been used by bus operators to complete more than 50,000 trips.