Shuttl, the Gurugram-based bus aggregator recently completed its Series B round of funding, with it raising a total of $11 million in the round. Amazon led the round through the Amazon Alexa Fund with the other main participants being Dentsu Ventures, Sequoia Capital, Lightspeed Ventures and Times Internet.
Shuttl is currently present in 3 markets, namely Delhi-NCR, Pune and Kolkata. The company aims to use these funds to expand its market, with plans afoot to enter two more markets by the end of 18-19, in addition to add more rides in its existing markets.
Operating around 45,000 rides daily, Shuttl has approximately 60,000 active users (monthly) on its platform. The company currently has around 800 buses on its platform.
The app-based platform enables one to reserve seats on their routes, with the company operating AC buses. The app also lets one track the ride in real time.
The company aims to reduce congestion on Indian streets, in addition to providing a reliable source of public transport. While it started as an inter-city service, it quickly moved to provide intra-city travel solutions.
The company, founded in the year 2015 by Amit Singh and Deepanshu Malviya has raised a total of $34.2 million since its inception. It had previously raised $20 million in its Series A round in December 2015.
Sources: Inc42, Economic Times, LiveMint