Amazon and Google backed Indian bus aggregator platform Shuttl, has just added a fresh investor to its last month’s Series C round. According to documents accessed by Paper.vc, Shuttl has got another $2.5Mn from Moving Capital via Angellist.
According to documents accessed by business intelligence platform Paper.vc, this appears to be a part of the Series C raise announced by the company last month. Toyota Tsusho Corporate and SPARX Group were supposed to be leading the round. This Series C closed last month, but now apparently has more takers as Shuttl’s business model looks to be taking of.
The company had mentioned last month, that its newly raised Series C 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.
