News: App based office bus service Shuttl raises $11 Mn in funding


App based office bus service Shuttl raises $11 Mn in funding

Shuttl will use the proceeds for expansion into two new cities by the end of 2018-19.
App based office bus service Shuttl raises $11 Mn in funding

App-based office bus service Shuttl owned by Super Highway Labs Pvt. Ltd, has raised $11 Mn in Series B funding led by Amazon India, Amazon Alexa Fund and Dentsu Ventures.

Existing investors Sequoia Capital, Times Internet and Lightspeed Ventures have also participated in the round. 

The Gurgaon-based mobility startup will use the funds to expand into two new cities by the end of 2018-19 and grow in existing cities including Delhi NCR and Jaipur. 

Amit Singh, chief executive and co-founder at Shuttl stated, “We see the top seven cities including Pune, Jaipur as our potential markets. We will continue to improve the consumer experience, design more routes, and restore the dignity of commuting for millions of people.”

Founded in January 2015 by Amit Singh and Deepanshu Malviya, Shuttl currently has 800 buses on its platform and is trying to solve the problem of an unreliable public transport system in the country. It started off an inter-city bus service, but three months later pivoted into intracity transport. Earlier, it had raised funds from Sequoia Capital, Times Internet, and Lightspeed Ventures. The startup claims to do 45,000 daily rides in five cities and is running pilots in Pune and Kolkata. It has about 60,000 active monthly users.

Paul Bernard, director, Amazon Alexa Fund stated, “Millions of people use shared transportation options for their everyday commute. Voice represents a new, convenient way for them to manage these types of daily routines, and we look forward to supporting Shuttl as they work to deliver this experience to Amazon Alexa customers across India.”

In April this year, MoveInSync Technology Solutions, a Bengaluru based office commute automation platform, had also raised $8 Mn in Series B round of funding led by Nexus Venture Partners.

Image Credits: Businessworld

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Topics: Technology

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