Amazon India, Amazon Alexa Fund and Dentsu Ventures have invested $11 million in the bus aggregator Shuttl. Existing investors Sequoia Capital, Times Internet and Lightspeed Ventures have also participated.
Gurgaon-based Shuttl plans to use the funds to expand to two new cities by the end of 2018-19. The company, which currently does 45,000 daily rides in five cities, is running pilots in Pune and Kolkata. It has about 60,000 active monthly users.
ALSO READ: Harry Potter fans rejoice! Lego brings the 6,020 piece Hogwarts Castle…
Founded in January 2015 and owned by Super Highway Labs Pvt. Ltd, Shuttl currently has 800 buses on its platform and is trying to solve the problem of an unreliable public transport system in the country. It has has a sound-based authentication system, Chirp, that transfers the boarding details locally between the driver and the rider apps.
Amazon Alexa Fund was founded in 2015 and provides up to $100 million in venture capital funding to fuel voice technology innovation, according to Amazon’s global website.
Shuttl was founded by two IIT graduates, Amit Singh and Deepanshu Malviya, former colleagues at fashion e-tailer Jabong.
Click here for Latest News updates and viral videos on our AI-powered smart news genie