Shuttl, an app-based shuttle service startup in India, has raised US$11 million in a Series B financing round, led by Amazon Alexa Fund (run by e-commerce giant Amazon) and Dentsu Ventures, the corporate VC arm of Denstu Group.
Some of its existing investors, which include Sequoia Capital, Times Internet, and Lightspeed Ventures, also joined this round.
The fresh funding will will allow Shuttl to expand its geographical reach and serve more consumers across Indian cities.
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.”
Started in April 2015, Shuttl is a seat-based demand-adaptive bus mobility startup, providing a carbon-efficient and cost-effective solution for urban India. Since buses are more road-space and carbon-efficient than cars, Shuttl’s model is able to reduce congestion and pollution, claims the company adding that it currently serves 45,000 rides daily in Delhi-NCR, Kolkata and other key cities of India.
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Shuttl covers 150 routes and operates 800 buses.
Paul Bernard, Director, Amazon Alexa Fund, added: “Millions of people use shared transportation options for their everyday commute. Voice represents a new, convenient way for them to manage these types of daily routines, and we look forward to supporting Shuttl as they work to deliver this experience to Amazon Alexa customers across India.”
Dentsu Ventures is a hands-on corporate venture capital fund of Dentsu Group, providing the expert support that entrepreneurs need to bring their innovations to the world. Dentsu Ventures has invested in areas that can change the marketing and communication business in a broad sense and new areas that have a high potential for innovation.