The funds raised from Lightspeed, Sequoia and Times Internet will be used to expand to new cities and strengthen the platform and network
The startup will use the funds to expand to new cities and strengthen its technology platform and network.
Shuttl was founded in April this year by IIT alumni Amit Singh and Deepanshu Malviya.
The app can be used by consumers to select their origin and destination points, and they are shown the approaching Shuttls at their point of boarding.
The startup runs air-conditioned buses which ply on fixed routes at price points between INR20 (US$0.30) and INR100 (US$1.50) per ride.
Shuttl is currently operational in Delhi and surrounding areas across 50 routes.
With over 500 buses on its platform, the company claims to be offering 15,000 rides a day and has facilitated 800,000 rides since its inception.
“We believe buses are the most space-efficient way to commute and we have added a technology layer on to them to build what could become a template for smart cities in India and abroad,” said Singh.
The company has previously raised US$3 million in seed funding from a group of angel investors.
Shuttl competes with the likes LiftO and rBus. Most recently, cab-hailing app giant Ola joined the bandwagon with its shuttle services, starting with Bangalore.
Image Credit: Shuttersock
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