Shuttl

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Shuttl
Super Highway Labs Private Limited
Company typePrivate
IndustryTransportation
Founded2015
Headquarters
Gurugram
,
India
Area served
India
Key people
Deepanshu Malviya, Amit Singh
ProductsMobile app
ServicesUrban Mobility
Revenue₹100 crore (2019)[1]
Websiteride.shuttl.com

Shuttl is a mobile app based office commute bus aggregator based out of Gurugram, India. The company was founded in 2015. It operates in more than 6 metro cities across the country.[2][3][4]

History

The company was founded by Amit Singh and Deepanshu Malviya. Shuttl began intra-city bus fleet operations in 2015 within Delhi-NCR.[5]

In 2019, the company clocked ₹100 crore in revenues in FY 2019.[6]

In 2021, the company was acquired by Chalo in an all-cash transaction.[7][8]

Funding

Shuttl raised its first round of funding in 2015 and has since then attracted several marquee investors including Sequoia, Lightspeed, Times Internet, Amazon India, Toyota Tsusho among others.[2][9][10] In November 2019, Shuttl raised $36 million in funding from Toyota Tsusho Corporate and SPARX Group, through its Mirai Creation Fund II, as well as some unnamed investors.[11]

In 2020, Shuttl raised ₹23.87 crore in Series C funding round led by Sojitz Corporation with participation from Compound Partners LLC.[12]

Awards

In June 2018, Shuttl was felicitated in the sustainable mobility category at the International Ashden Awards held in London.[13][14]

Earlier, in November 2017, in the FICCI Road Safety Awards, the firm had won the Special Jury Award in the category of Road Safety Product and Solution.[15][16]

See also

References

  1. ^ "Shuttl crosses ₹100 crore revenue in FY19 with 100k daily riders". Mint. 15 October 2019. Retrieved 7 June 2020.
  2. ^ a b "Shuttl raises $11 million funding from Amazon India, others". Mint. 30 July 2018. Retrieved 7 June 2020.
  3. ^ "Shuttl records 100,000 daily rides on its platform". The Economic Times. 16 October 2019. Retrieved 7 June 2020.
  4. ^ "Shuttl to ride into four new cities soon". 10 May 2016. Retrieved 7 June 2020.
  5. ^ "Bus Aggregator Shuttl Launches New Security Experience – Shuttl SAFE". 25 July 2017. Retrieved 7 June 2020.
  6. ^ SH, Salman (15 October 2019). "Shuttl crosses ₹100 crore revenue in FY19 with 100k daily riders". mint. Retrieved 2 March 2023.
  7. ^ "Chalo buys two-wheeler rental startup Vogo in second acquisition over six months". Moneycontrol. Retrieved 2 March 2023.
  8. ^ Singh, Manish (26 October 2021). "India's Chalo acquires Amazon-backed bus aggregator Shuttl". TechCrunch. Retrieved 2 March 2023.
  9. ^ "Toyota-backed bus aggregator Shuttl raising capital from new investor". VCCircle. 15 January 2020. Retrieved 7 June 2020.
  10. ^ "Shuttl gets latest round of funding from Amazon; here's how the startup is making daily commutes smooth". 13 August 2018. Retrieved 7 June 2020.
  11. ^ "India's Shuttl raises $36M to expand its app-based bus aggregator". TechCrunch. 25 November 2019. Retrieved 18 November 2020.
  12. ^ Mittal, Aarzoo (18 February 2020). "Shuttl raises Rs 24 Cr more in Series C round". Entrackr. Retrieved 2 March 2023.
  13. ^ "India's sustainable energy superheroes shine at the Ashden Awards". 13 June 2018. Retrieved 7 June 2020.
  14. ^ "Shuttl - Ashden Award Winner 2018 - Ashden". Retrieved 7 June 2020.
  15. ^ "FICCI Road Safety Awards 2017 Citation" (PDF). Retrieved 7 June 2020.
  16. ^ "Shuttl launches safety feature for its passengers". www.businesstoday.in. 26 July 2017. Retrieved 7 June 2020.
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