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Shuttl

From Wikipedia, the free encyclopedia

Shuttl
Super Highway Labs Private Limited
Company typePrivate
IndustryTransportation
Founded2015
Headquarters,
Area served
India
Key people
Deepanshu Malviya, Amit Singh
ProductsMobile app
ServicesUrban Mobility
Revenue100 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

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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

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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

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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

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References

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  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.