Shuttl raises $11 mn from Amazon, others
aggregator Shuttl, owned by Super Highway Labs Pvt. Ltd, has raised $11 million led by Amazon India, Amazon Alexa Fund and Dentsu Ventures, the company said on Monday, 30 July.
Existing investors Sequoia Capital, Times Internet and Lightspeed Ventures have also participated.
Gurgaon-based Shuttl plans to use the funds to expand into two new cities by end of current fiscal year and grow in existing cities including national capital region and Jaipur. The company, which currently does 45,000 daily rides in five cities, is running pilots in Pune and Kolkatta. It has about 60,000 active monthly users.
“We see the top seven cities including Pune, Jaipur as our potential markets,” said Amit Singh, chief executive and co-founder at Shuttl.
“We will continue to improve the consumer experience, design more routes, and restore the dignity of commuting for millions of people,” he added.
Founded in January 2015, Shuttl currently has 800 buses on its platform and is trying to solve the problem of an unreliable public transport system in the country.