Urban Mobility Startup Shuttl Raises ₹7.3 crores

Shuttl, the Gurgaon-based MiniBus service, today in a report has announced that they have raised Rs 7.3 crore in the debt funding round from Trifecta Capital, the venture debt fund. As of now, the deal has not yet been officially revealed or confirmed by any of the company. 

This time, the funding came in less than three months, as Shuttl raised $11 Million in the Series B round of funding in July 2018. The funding in July was led by the Amazon, in connection with the Amazon Alex Fund and Japan-based Dentsu Venture,  besides some other existing investors.

In the year 2015, the startup raised $20 Million in the funding round of series A which was led by Sequoia Capital India, the Times Internet, and LightSpeed Ventures Partners.

Shuttl was founded in 2015 by Deepanshu Malviya and Amit Singh. It is an app-based office bus provider company, which makes daily commuting easier and convenient for its users. It provides AC buses with high frequency and that too, at affordable costs.

At present, the services of Shuttl are available in Delhi-NCR region. But, its pilot programs are running in two other cities – Kolkata and Pune. Shuttl claims that currently, it provides services to more than 30,000 users with the help of a fleet of more than 500 buses on 50 routes every day.

Some of the other players in the Indian bus aggregation space include ZipGo and CityFlo.

Picture Credits: Shuttl