[Funding Alert] Shuttl raises Rs 41 Cr from Proof.VC, BCCL MD Vineet Jain, Mu Sigma's Co-founder and others
Summary
Gurugram-based Super Highway Labs, which runs and owns bus aggregator platform Shuttl, has raised a part of its Series B funding of Rs 41 crore from a clutch of investors led by Proof.VC, according to Shuttl’s filings with the Registrar of Companies (RoC). The filings show that Sabre Investments, Karun Carpets, Exponential 1 Mobility, Trifecta Capital, and BCCL (Times Internet parent) MD Vineet Jain, and Mu Sigmas Co-founder and former CEO Ambiga Subramanian also participated in the round. Started by Amit Singh and Deepanshu Malviya in late 2014, Shuttl, as of last year, was offering close to 45,000 rides a day with over 700 buses and 150 routes in seven cities across the country. There are three steps to book the service: open an account on the app, pick a boarding and drop point and time of commencement, and get your ride pass. Irrespective of the number of trips a customer makes, the driver is paid, and so are commissions.
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