Urban mobility startup Shuttl, the Gurugram-based company has secured $11 million in Series-B round funding which was led by E-Commerce giant Amazon along with Amazon Alexa Fund and Dentsu Ventures. The firm announced that existing investors that include Sequoia Capital, Times Internet, and Lightspeed Ventures also took part in the funding round.
The company said that it will use fresh capital in developing their product further, expanding to new cities and increasing their Delhi business as they increase the routes and frequency in Delhi. Amit Singh, the CEO of Shuttl while speaking to ET said, "We are looking at increasing the routes and the frequency within Delhi as well as expanding into other cities."
Shuttl was started in 2015 by Amit Singh and Deepanshu Malviya as an app-based bus service to the office goers, helping reduce congestion in cities by offering bus services. The platform currently runs about 800 buses on the platform. Apart from providing the services in Delhi, Shuttle is running pilots in Pune and Kolkata. The company claims to service around 30K rides every day.
Amit Agarwal, Amazon India head commenting on the investment said that “By taking on the everyday urban commute, Shuttl is solving for 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.”
Amazon Alexa Fund who also led the funding round said, “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.”
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