Providing stress-free, on-demand transportation to and from the office, Shuttl is India’s leading bus aggregation platform.
We’ve all seen the horrible state of public transit in India, whether it’s due to the lack of infrastructure or the questionable condition of the cars. This is why most individuals prefer to travel in their own automobiles.
You can imagine what would happen if everyone who has a car used it to get to work. The administration has also been working hard to resolve this issue. Shuttl enters the game at this point and attempts to resolve the problem. For corporate workers, this upstart business makes commuting more convenient.
The firm was established in 2015 and is based in Gurgaon.
The firm began operations in the Delhi-NCR region. Shuttl’s services have now been expanded to cities across India, including Mumbai, Pune, Hyderabad, Kolkata, and Chennai.
Shuttle offers reserved seats on air-conditioned buses, real-time bus tracking, low-cost single-day and monthly plans, guaranteed safety through modern technological integrations, and thorough driver and co-passenger identity checks.
Amit Singh and Deepanshu Malviya launched the firm in 2015.
In 2015, the Shuttl company launched an intra-city bus fleet in Delhi-NCR. Shuttl began in 2014, when Amit Singh and Deepanshu Malviya, both IIT grads, worked for the e-commerce business Jabong. They abandoned their employment at Jabong because they wanted to establish their own business. They began with a mobile content platform before branching out into intercity cab services. Both of these efforts, however, were doomed to fail. Despite this, neither Amit nor Deepanshu gave up hope and continued to hunt for new chances.
Since its launch, the bus sharing service has provided over 8 lakh trips, averaging more than 4,000 journeys each day. Apart from Delhi, the organisation has operations in Hyderabad, Kolkata, Gurgaon, Faridabad, Noida, and Pune, with plans to expand to other cities.
Shuttl’s business concept is straightforward. They are an online aggregator that collaborates with a variety of service providers to market their products under the Shuttl name.
Bus operators having a valid licence to operate on certain routes are the service providers in this scenario. Shuttl does not own or operate any of the vehicles that bear its name. It just engages into service contracts with bus service providers for the use of their vehicles (typically at a predetermined fee).
According to the company’s unaudited financial data revealed, app-based bus aggregator Shuttl topped INR 100 crore in sales in the financial year ending March 2019, representing a 123 percent year-on-year rise compared to INR 44.8 crore revenue recorded in FY18.
Shuttl claims to have a daily ridership of more than 1 lakh throughout the six cities. Shuttl, which has funded more than $50 million since its founding in 2015, now has a network of over 350 shuttle routes and 1,800 vehicles running across India. Shuttl also boasts that over 33 million rides have been done to date. Women make up about 38% of Shuttl users.
According to the statistics, the firm has received funding from 22 investors, including Sojitz, SIG Global India Fund, SPARX Group, and Moving Capital.
It has raised a total of $122.3 million in fundraising across 13 rounds, with the most recent round taking place on February 18, 2020.