Shuttl, India’s largest bus aggregator platform, raises $50m in a series C founding round including an international consortium of investors led by Toyota Tsusho and Mirai Creation Fund m in a series C funding round in the Company.
Shuttl is a leading commute solution for middle-income individuals in India. It addresses the challenges of urban traffic congestion, air pollution, and limited public transport options in the country. By offering a ride-share app, Shuttl guarantees commuters a seat on buses along their route, providing safe, comfortable, and reliable travel at an affordable price.
Since its launch in Delhi NCR, Shuttl has rapidly expanded across India due to its market-fit, affordability, and the large size of the market. In 2019 alone, the company completed 20 million rides and currently operates over 2,000 daily buses in six major Indian cities. Shuttl also focuses on improving the safety of women commuters, who represent 40% of its user base.
Shuttl plans to utilize these funds to continue scaling its business and benefit from the expertise and global presence of its new investors.