Shuttle transportation startup “Shuttl” has raised $36 million from its major investors

Shuttl is an app-based bus service that is currently operating in six cities in India. It was found in the year 2015 to cater to the bus needs of daily travelers. It has around 2000 buses that are running in New Delhi, Hyderabad, Kolkata, Pune, Mumbai, and Chennai. Currently, buses of Shuttl are covering about 350 routes in these major cities and provides around 1 lakh rides per day. 

In the app,  the customers have to enter the source and the destination to book their tickets. The authentication process of the passenger is completed before they board the bus. 

Safety of the passengers

Shuttl regards customer safety as an essential aspect. So a few features were included in the app to ensure that the passengers have a safe ride. An emergency button was incorporated to stop the bus automatically at the nearest bus stop in case of any emergency. The passengers can share their route and live location to their close ones. The drivers will go through a verification process before they start the ride. Once they identify themselves, they have to take up an alcohol test. 

The Co-Founder and Chief Executive of Shuttl mentioned in a recent interview that more than 40% of the passengers availing the Shuttl bus service were women. He also added that Shuttl would expand its routes in the forthcoming year. 

Two leading companies, namely Toyota Tsusho Corporation and Mirai Creation Fund, have recently agreed to invest $18 million in Shuttl. The actual funds raised for Shuttl were around $36 million. Details of the other investors were not divulged. With these funds, Shuttl will introduce new routes in Kolkata, Delhi, and Chennai. They have also planned to open up a technology centre in Bangalore, Karnataka.  

As a part of the expansion process, it also added providing food as an additional service in the Shuttl buses. This attracted many customers’ attention towards the service. Another important leverage stated by Shigeru Harada, COO of Automotive Division in Toyota Tsusho Corporation, was that Shuttl has significantly reduced air pollution by providing mass transportation across different routes. He also said that Toyota and Shuttl would work together to establish this mass transportation service globally. 

Shuttl also has other investors, namely: 

• Amazon
• Dentsu Ventures
• Sequioa Capital
• Lightspeed Venture Partners
• Times Internet Limited
• MuSigma and more. 

Shuttl is planning to expand the routes slowly as finding the correct route and stops are a little complicated. It is also planning to recruit more drivers and train them once the routes are finalized. As far as its revenue is concerned, it was recorded as 44.8 crores in the year 2018. It has crossed 100 crores by the end of the financial year 2019. 

Many other companies also came up with a bus service Uber clone app with Uber’s model as the base to provide rides on a daily basis to the public. The main tool for this mass transportation business is the online app. We are a leading app development company that provides bus transportation apps at cost-effective prices. If you have a bus service, then get your app developed for your business with our skilled developers. 

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