22 December, 2015, New Delhi: Shuttl, India’s first bus aggregator platform headquartered in Gurgaon has raised US $20 million in Series A funding from Lightspeed, Sequoia India & Times Internet Ltd .
Speaking on the occasion Amit Singh, Co-Founder, Shuttl said, “We exist to solve the office commute problem while positively impacting issues like congestion, pollution and safety. We have progressed in this direction in partnership with Car Free Day and Rapid Metro in easing out last mile connectivity and daily commute for users. 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.”
Offering about 15000 rides a day, Shuttl users are emerging as a community with people engaging beyond the ride. The price points for a ride range between Rs20 & Rs.100. Since its inception, Shuttl has offered more than 8 lakh rides.
“We are living in exciting times, where there is a supercomputer in every pocket which creates infinite possibilities. We’re excited that we’re using our skills in solving a problem that has the potential to improve the quality of life for millions of commuters and urban residents.” added Deepanshu.
“What excites Lightspeed about Shuttl is the opportunity for the company to have massive positive social impact by helping address the problems of transportation, safety and pollution. Solving daily travel in a safe, affordable and green way has great potential. We are confident that the leadership at Shuttl is equipped to bring their vision to life.” said Bejul Somaia, Managing Director, Lightspeed India Partners Advisors LLP.
Shuttl was founded in April 2015 by IIT Delhi alumni Amit Singh & IIT Kanpur alumni Deepanshu Malviya. Currently operational in Delhi NCR, the platform provides shuttle services to commuters across 50 routes in Delhi NCR. In a time when a lot of cities are struggling with congestion and pollution, Shuttl services have emerged as a relevant and affordable option for commuters.