Shuttl, the app-based bus aggregator that counts the likes of Amazon and others among its financial backers, has announced raising of yet another round. The fresh round, an $18Mn Series C has been funded by Toyota Tsusho Corporate and SPARX Group, through its Mirai Creation Fund II.
This freshly raised capital will be used by the company to fuel India-wide expansion. Shuttl currently operates in six cities across India, including populated metros like the capital city of Delhi and India’s financial powerhouse Mumbai.
In terms of numbers and fleet size, Shuttl claims to operate close to 1,800 buses that clock over 100,000 rides each day in six cities in India. As is the case with most app-based mobility apps, customers can book their rides through the app and on-board the bus through specified bus stations.
However, what makes the service strikingly different from India’s current public transportation system, is the slew of safety features that the app provides. To start the list, each bus driver has to authenticate himself/herself before starting a journey, along with an instant alcohol test. Not just drivers, but even advance booking commuters have to authenticate when the enter the bus from their specified stations.
All buses are equipped with GPS-enabled live tracking system, along with an emergency button. The button, if and when pressed, ensures that the bus is forced to slow down and automatically stop by the time the next designated bus stop comes.
In terms of revenue, Shuttl claims that it doubled its revenue in the fiscal year that ended in March. The company’s net revenue crossed INR 100 crore (~$14 million).