Shuttl, a Gurgaon-based bus aggregator platform, has raised $20 million in Series A funding from a group of investors including Sequoia Capital, the leading venture capital firm. Shuttl, founded in April 2015 by IIT alumni Amit Singh and Deepanshu Malviya, is currently operational in Delhi-NCR and has 500 buses on its platform, offering and 15,000 rides a day. The platform provides shuttle services to commuters across 50 routes in Delhi-NCR.
Singh said, “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.” The other investors who participated in this funding round include Lightspeed Venture Partners and Times Internet Ltd.
The price points for a ride range between Rs 20 and Rs 100.