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Shuttl raises $20M funding from Lightspeed, Sequoia and Times Internet

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Its recent problems with the transport authorities notwithstanding, bus aggregator Shuttl has raised $20 million in its series A round of funding from Lightspeed Ventures, Sequoia India and Times Internet Limited.

Founded in April 2015 by Amit Singh and Deepanshu Malviya, Shuttl currently operates only in the Delhi NCR region with a fleet of 500 buses on its platform. The service operates 50 routes in the region and offers about 15,000 rides in a day. The price points for a ride range between  Rs 20 and Rs 100.  Shuttl claims that it has finished more than 8 lakh rides.

Shuttl runs air-conditioned buses which ply on fixed routes.Users can use the Shuttl application to select their origin and destination points and are shown the approaching Shuttls at their point of boarding.

The company says that is also engaging with the relevant stakeholders to work towards the success of the odd-even initiative of Delhi Government. “We have progressed in this direction in partnership with Car Free Day and Rapid Metro in easing out last mile connectivity and daily commute for users,” Amit Singh said in a statement.

Transport authorities shut down the service

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Last week, Shuttl’s services in Gurgaon was shut down as the companies did not have the correct permits to run the shuttles in the city. The report says that the companies do not fall under the ambit of Haryana Contract Carriage Permit Act and hence their services cannot operate there.

Competition

– In September, Ola added bus shuttle services to its platform in Bangalore and Gurgaon, where the company claimed to have 500 shuttles covering 100 routes. The shuttles, like cabs, are privately owned, but provide 12 to 20 seats and can only be booked if empty seats are available.

– There’s also Bangalore-based ZipGo which runs shuttles. Last month, the company launched a bus service for women in Delhi NCR, on a membership basis. Women also make up a significant chunk of the travelers in Delhi, prompting the company to launch this service.

– Mumbai-based rBus raised an undisclosed amount of seed fund from India Quotient, People Group founder Anupam Mittal and others in August this year.

– Cityflo, another Mumbai-based bus aggregator, also raised $750,000 from IDG Ventures.

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Image source: Flickr user Shankar S

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