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Urban mobility startup Shuttl raises Rs 75 cr in Series-B funding

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 BEx Bureau
BusinessEx
Jul 30, 2018

Gurugram-based urban mobility startup Shuttl said that it has raised $11million (about Rs 75 crore) in a series-B financing 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, he 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.

Amazon Indias country head Amit Agarwal said, By taking on the everyday urban commute, Shuttl is solving for a large and relevant customer pain point. Amazon is impressed by Shuttls journey so far and excited to back missionary founders and management teams.

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.

Paul Bernard, director, Amazon Alexa Fund, which backs voice technology startups, 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.

Times Internet is part of the Times Group that publishes The Economic Times.

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