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Shuttl gets $11M from Amazon India, Amazon Alexa Fund & Dentsu Ventures

Bus aggregator Shuttl has raised funding of $11 million led by Amazon India, Amazon Alexa Fund and Dentsu Ventures. Existing investors Sequoia Capital, Times Internet and Lightspeed Ventures also participated in the funding round. The company will use the funding to expand into two new cities and strengthen its service in existing cities–Delhi NCR and Jaipur. Shuttl is also running pilots in Pune and Kolkata.

Founded in January 2015 by Amit Singh and Deepanshu Malviya, Shuttl runs air-conditioned buses which ply on fixed routes. Users can use the Shuttl mobile appl to select their origin and destination points and are shown the approaching Shuttls at their point of boarding.

According to Livemint’s report, Shuttl does about 45,000 rides a day and has about 60,000 monthly active users.

The company has so far raised total funding of $ 34.2 million in four rounds of funding, according to CrunchBase data. Before this round of funding, the company had raised $20 million in its series A round of funding from Lightspeed Ventures, Sequoia India and Times Internet Limited back in December 2015.

Competition

The company competes with likes of ZipGo and Cityflo. Earlier, Ola Shuttle was also a competition, however, the cab company has now shutdown the service.  Zipgo raised funding of $5.2 million in Series A funding last year, and Cityflo bagged Rs 34 lakh recently for winning Better Bus Challenge in Bangalore.

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ