Mobility start-up Shuttl has raised $11 million in a Series B financing round led by Amazon, in connection with the Amazon Alexa Fund and Dentsu Ventures, along with existing investors like Sequoia Capital, Times Internet and Lightspeed Ventures.
The Gurgaon-based company will use the investment to boost its market share in the seat-based bus mobility market and to expand its geographical reach and serve more consumers across Indian cities.
Shuttl’s smart buses serve 45,000 rides daily in Delhi-NCR and are present in seven cities across India, including pilots in Kolkata and Pune. Currently, the company operates 800 buses on 150 routes. Shuttl shares the market with emerging players like Paris-based BlaBla Car, which has raised a $200 million in Series D funding in 2015.
Also, Mumbai-based RedBus, which offer bus bookings, and Poolmyride and Zify that offer ride-sharing services. Shuttl CEO and co-founder Amit Singh said, “We want to reduce congestion in cities via a seat-based smart bus option. We have shown that this can be done at scale.”
