The funding will be used towards the enhancement of the technology and expanding its operation to multiple cities beyond Delhi NCR.
Shuttl started its operations in April 2015 by Amit Singh and Deepanshu Malviya. Singh is an alumnus of IIT-Delhi and XLRI-Jamshedpur, while Shuttl co-founder Malviya is an alumnus of IIT-Kanpur and ISB Hyderabad and leads technology and data sciences.
The startup is backed by Sequoia Capital and in just seven months of launch the company it had scaled to around 13,000 rides per day across Delhi NCR. Shuttl has offered more than 800,000 rides.
There are other players in this space which includes Cityflo, rBus, and ZipGo which operates in this space. Ola had started its shuttle service in two areas, Bangalore and Gurgaon (near Delhi), with 500 shuttles covering 100 routes.
Last week, Shuttl and Ola’s Shuttle services were suspended in Gurgaon. According to the Regional Transport Authority in Gurgaon, these services were stopped in Gurgaon as they didn’t fall in the ambit of Haryana Contract Carriage Permit Act 1988, 1993, 2001, 2004, and 2013.
Shuttl has recently hired former Airtel executive Venkatesh Rangachari as its head of growth. Earlier, the company had raised $3 million in seed funding from Sequoia and others.