Shuttl, a bus-sharing start-up based out of Gurugram has reportedly raised $11 million through a series B venture funding round driven by Amazon India in association with Amazon Alexa Fund. The round also involved the participation of many other investors, namely Sequoia Capital, Times Internet, and Dentsu Ventures.
As per sources, the evolving start-up plans to use the funds for marketing, product development, and expansion in new cities. It will soon expand its services to newer routes and increase operational frequency of the buses in Delhi, the sources further claim.
Amit Singh, CEO and Co-Founder of Shuttl, was quoted saying that the company’s mission is to reduce the inconvenience caused during everyday commute and improve traffic condition in cities through advanced seat-based solutions. He added that the firm has already implemented the same on a large scale and will continue to live up to customer expectations through consistent enhancements.
Apparently, the everyday urban commute offered by Shuttl resolves a big pain point for regular commuters. According to Amit Agarwal, Country Head, Amazon India, the company’s journey so far has been rather impressive. Amazon is thrilled to extend its support to the founders and their team., he further claims.
For the uninitiated, the start-up was founded in April 2015, by two IITians Amit Singh and Deepanshu Malviya, after identifying a potential opportunity in Delhi’s transportation crisis. Shuttl offers an app-based office commute service which is convenient as well as cost-effective. Back then, the service had an edge over Taxi giants like Ola and Uber, as their now popular cab pooling services had not commenced.
As per reports, in a day Shuttl provides 45 thousand rides and has 800 buses covering over 150 routes. Its services are currently accessible in seven cities including Delhi-NCR and pilots in Kolkata and Pune.