Shuttl Gets $11 Mn in Series B round from Amazon, others

Gurugram-based Super Highway Labs Pvt. Ltd, which operates bus aggregation platform Shuttl, today announced that it has raised $11 million in series B funding. The funding was led by Amazon India, Amazon Alexa Fund and Dentsu Ventures along with existing investors Sequoia Capital, Times Internet and Lightspeed Ventures, who also participated in this round.

With the newly raised capital, Shuttl plans to expand its services into two new cities by the end of 2018-19 and grow in existing cities including Delhi NCR and Jaipur. Besides, a part of the risk capital will be allocated for product development and marketing.

Amit Singh, CEO and Co-Founder, Shuttl said, “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. We have shown that this can be done at scale. We will continue to improve the consumer experience, design more routes, and restore the dignity of commuting for millions of people.”

Shuttl was founded in 2015 by Amit Singh and Deepanshu Malviya, who previously worked together at fashion e-tailer Jabong. The duo started it as an inter-city bus service but later they pivoted into intracity transport. The company aims to reduce congestion in cities by offering bus services that consumers can easily book through a mobile app.

“By taking on the everyday urban commute, Shuttl is solving a large and relevant customer pain point. Amazon is impressed by Shuttl’s journey so far and excited to back missionary founders and management teams,” said Amit Agarwal, country head at Amazon India.

Currently running pilots in Pune and Kolkata, Shuttl facilitates 45,000 daily rides in five cities. It has about 60,000 active monthly users on its mobile app. In 2016, it launched Chirp, a sound-based authentication system that transfers the boarding details locally between the driver and the rider’s apps.

Shuttl raised its first round of funding within three months of operations. It previously raised $20 million led by Sequoia Capital and competes with ZipGo and Cityflo in this space.

SEE MORE: LifCare Raises M in Series B Round Funding

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