Toyota Tsusho Corporate and SPARX Group, through its Mirai Creation Fund II, and some unnamed investors have funded Shuttl’s ongoing Series C financing round, the four-year-old startup said. Shuttl, which is based in Gurgaon and counts Amazon as one of its investors, has raised about $84.5 million to date.
Shuttl operates about 1,800 buses that clock over 100,000 rides each day in six cities in India. Customers book their rides through the app and on-board the bus through specified bus stations.
The buses on the platform are equipped with a range of safety features such as an emergency button that automatically slows down the bus until completely stopping at the nearest bus stop. It also offers a live feed that any passenger could share with their loved ones.
Another mandatory feature requires drivers to identify themselves before starting the journey and take an instant alcohol test. Passengers, who are required to book a ticket in advance of riding the bus -- different from how traditional buses operate in India -- are also authenticated before they can get on with their rides.
These safety features have made the service especially popular among women, Amit Singh, cofounder and chief executive of Shuttl, told TechCrunch in a recent interview. More than 40% of Shuttl’s passengers are female, who find the rides on its buses a safer commute option. This is a promising feat, as women only make up for about 20% of India’s workforce, according to industry estimates.
Singh said that Shuttl, which recently added new routes in New Delhi, Chennai, and Kolkata, will use the fresh capital to grow within and beyond its circle of six cities.
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