Bus aggregator shuttl raises $11 mn led by Amazon, Dentsu Ventures
Shuttl, a Gurugram-based online bus aggregator, today said it has raised USD 11 million in funding led by Amazon, Amazon Alexa Fund and Dentsu Ventures.
Shuttl, a Gurugram-based online bus aggregator, today said it has raised USD 11 million in funding led by Amazon, Amazon Alexa Fund, and Dentsu Ventures.
The series B financing round also saw participation from the existing investors.
"The investment will help Shuttl consolidate its leadership position in the technology-enabled seat-based bus mobility market," Shuttl said in a statement.
It will also allow the company to expand its geographical reach and serve more consumers across Indian cities, it added.
Shuttl is backed by investors like Sequoia Capital, Times Internet, and Lightspeed Ventures.
"We will continue to improve the consumer experience, design more routes, and restore the dignity of commuting for millions of people. We welcome Amazon and Dentsu Ventures to be a part of this exciting journey," Shuttl co-founder and CEO Amit Singh said.
Shuttl serves 45,000 rides daily in Delhi-NCR and is present in seven cities, including pilots in Kolkata and Pune. Currently, the company operates 800 buses and 150 routes.
The company is also adding technology-enabled safety features like face-recognition and live-CCTV feed to these buses.
Amazon's Alexa Fund provides up to USD 100 million in venture capital funding to fuel voice technology innovation. In November 2017, the company had announced up to an additional USD 100 million in the Fund, targeted at international investment opportunities.
"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," Amazon Alexa Fund Director Paul Bernard said.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)