Shuttl Scores As Apps That Bundle Routes, Rates Gain Favor With VCs

Sites that aggregate bus routes and pricing have emerged as a popular area of investment in the emerging markets of Southeast Asia. The latest startup in this segment to attract more financing is Shuttl in Delhi, which has raised $25 million from Lightspeed Venture Partners, Sequoia Capital and Times Internet.

This new financing for Shuttl follows $3 million from existing investor Sequoia Capital and some angel investors.

With as many as 16 new ventures that have been launched in this same space in recent months, Shuttl is looking to bulk up, expanding in major metros Mumbai and Bangalore and adding to its existing staff of 150. A former executive with Bharti Airtel, Venkatesh Rangachari, has been named to head up growth strategies.

Shuttl is handling as many as 15,000 bookings daily on some 450 busses. Shuttl is competing with rivals that also have recently raised financing – Cityflo, Zipgo and Limo.