Gurugram-based urban mobility startup Shuttl raised $11 million in its series B financing.
The round was led by Amazon India, Amazon Alexa Fund, and Dentsu Ventures. The company’s existing investors Sequoia Capital, Times Internet, and Lightspeed Ventures, also participated in the round.
The company plans to use the funds to strengthen its position in the technology-enabled seat-based bus mobility market. It will also allow Shuttl to expand its geographical reach and serve more consumers across Indian cities, which are severely congested and where commuters have limited reliable, safe and cost-efficient options to commute.
Founded in April 2015 by Amit Singh and Deepanshu Malviya, Shuttl provides an app-based office shuttle service which it claims is comfortable as well as economical.
“At Shuttl our mission is to take the pain away from everyone’s commute and reduce congestion in cities via a seat-based smart bus option,” said Amit Singh, chief executive and co-founder, Shuttl.
Shuttl’s smart buses serve 45,000 rides daily in Delhi-NCR and are present in seven cities across India, including pilots in Kolkata and Pune. Currently the company operates 800 buses on 150 routes. Since buses are more road-space and carbon-efficient than cars, Shuttl’s model is focused on reducing congestion and pollution.