Urban mobility startup Shuttl raised $11 million in its series B financing round, led by Amazon India, Amazon Alexa Fund, and Dentsu Ventures. The company’s existing investors Sequoia Capital, Times Internet, and Lightspeed Ventures, also participated in the round.
The investment will help the Gurugram-based company strengthen its position in the technology-enabled seat-based bus mobility market. It will also allow Shuttl to expand its geographical reach and serve more consumers across Indian cities, which are severely congested and where commuters have limited reliable, safe and cost-efficient options to commute, the company said in a statement on Monday.
"At Shuttl our mission is to take the pain away from everyone’s commute and reduce congestion in cities via a seat-based smart bus option,” said Amit Singh, chief executive and co-founder, Shuttl.
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. Since buses are more road-space and carbon-efficient than cars, Shuttl’s model is focused on reducing congestion and pollution.
"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,” said Amit Agarwal, senior vice president and country head, Amazon India.
"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,” said Paul Bernard, Director, Amazon Alexa Fund.
The Amazon Alexa Fund, which fuels voice technology innovation by providing startups with venture capital funding and access to a variety of resources, including early access to SDK (software development kit) capabilities, was launched in 2015. It has invested in more than 40 companies, and recently announced another $100 million in funding to support the next wave of voice startups around the world.
Shuttl was founded in 2015 by Singh and Deepanshu Malviya. In the last three years, by digitally enabling drivers-partners and transporters, Shuttl has created and supported over 250 small entrepreneurs in the transport sector. A few of its technology enabled safety features include face-recognition and live-CCTV feed, which are particularly important for working women.
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