Bus-sharing app Shuttl raised $11 million Series B from Amazon

Tinuku - Gurugram-based urban mobility startup Shuttl said that it has raised $11 million (Rs 75 crore) in a series-B round led by Amazon in connection with the Amazon Alexa Fund and Dentsu Ventures along with existing investors. The funds would be used for product development, expansion into new cities and marketing, Shuttl chief executive Amit Singh told ET.

“We are looking at increasing the routes and the frequency within Delhi as well as expanding into other cities,” Shuttl CEO Amit Singh said.

The company, which operates an app-based office bus service, is currently present in Delhi and is running pilots in Pune and Kolkata. Earlier, it had raised funds from Sequoia Capital, Times Internet and Lightspeed Ventures. The company currently does 45,000 rides daily. Singh said that more than half the clients had switched over from cars or car-based solutions.

“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 India’s country head Amit Agarwal 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,” Amazon Alexa Fund director Paul Bernard said,