Bengaluru-based startup Tummoc has entered Nepal with an automated fare collection system and a taxi aggregator app to support public transport.

Founded in 2019, Tummoc offers B2C and B2B solutions to digitize public transport and now operates in 22 Indian cities, aiming for 50 by 2026.

The company collaborates with transport authorities in cities like Delhi and Bengaluru and plans to expand to 32-35 cities by year-end.

CEO Hiranmay Mallick said the company is eyeing expansion into Bangladesh, North and South America, Europe, and Southeast Asia.

🔗 Source: YourStory

🧠 Food for thought

1️⃣ Southeast Asia represents a strategic MaaS battleground amid massive market growth

Tummoc’s prioritization of Southeast Asia follows clear market logic in a mobility service industry projected to grow from approximately $263 billion in 2025 to $6.59 trillion by 2035, representing a 38% compound annual growth rate1.

The region has already proven fertile ground for mobility platforms, as demonstrated by Grab’s evolution from a simple Malaysian ride-hailing service in 2012 to becoming Southeast Asia’s first “decacorn” valued at over $10 billion after acquiring Uber’s regional operations2.

Singapore stands as a particular case study in advanced mobility integration, having implemented intelligent toll systems for 15 years and actively promoting autonomous vehicles in public transport with plans for self-driving buses and taxis3.

Tummoc’s expansion strategy mirrors Grab’s successful platformization approach, beginning with core transportation services before expanding to a comprehensive ecosystem that can attract and retain customers through multiple service offerings.

2️⃣ Political instability creates significant barriers to tech expansion in emerging markets

The delay in Tummoc’s Bangladesh operations due to political turmoil reflects a broader regional challenge, as Bangladesh’s once-thriving startup ecosystem (averaging $3.7 million in funding per startup) now faces serious uncertainty4.

The impact extends beyond just operational delays. The Bangladeshi taka has depreciated from 95 to 118 per dollar between August 2022 and August 2024, while foreign reserves dropped from $39.6 billion to $26.8 billion in roughly the same period4.

This currency volatility presents significant challenges for tech companies like Tummoc seeking to establish operations, as it complicates financial planning, investment returns, and operational costs.

A survey by Economic Intelligence Bangladesh revealed that 75% of business leaders view political uncertainty as a significant risk factor for 2025, demonstrating this is not merely a temporary concern but a persistent challenge for companies expanding in certain Southeast Asian markets5.