Ultimate magazine theme for WordPress.

Mobility Start-up Shuttl raises $11 million

14

Mobility start-up Shuttl has raised $11 million in a Series B financing round led by Amazon, in connection with the Amazon Alexa Fund and Dentsu Ventures, along with existing investors like Sequoia Capital, Times Internet and Lightspeed Ventures.

The Gurgaon-based company will use the investment to boost its market share in the seat-based bus mobility market and to expand its geographical reach and serve more consumers across Indian cities.

Shuttl’s smart buses serve 45,000 rides daily in Delhi-NCR and are present in seven cities across India, including pilots in Kolkata and Pune. Currently, the company operates 800 buses on 150 routes. Shuttl shares the market with emerging players like Paris-based BlaBla Car, which has raised a $200 million in Series D funding in 2015.

Also, Mumbai-based RedBus, which offer bus bookings, and Poolmyride and Zify that offer ride-sharing services. Shuttl CEO and co-founder Amit Singh said, “We want to reduce congestion in cities via a seat-based smart bus option. We have shown that this can be done at scale.”

Get real time updates directly on you device, subscribe now.

Advertisement

Subscribe to our newsletter
Sign up here to get the latest news, updates delivered directly to your inbox.
You can unsubscribe at any time
Comments

Join Our Newsletter Today!

Stay updated with all latest updates from the world of Business Technology, get exclusive invites to our upcoming events & much more.
Subscribe Now!
SUBSCRIBE NOW
close-link