Shuttle was founded by Singh and Malviya, who are both ex-IITans in 2015. The app runs shuttle services for office- goers and it also caters to corporate offices. It also provides an option of renting. This can be accessed via the app’s website. Currently, Shuttle has its operations in Delhi, Kolkata, Noida, Gurugram, Faridabad and Pune. As of last year, shuttle operated 700 buses per day with running 150 routes in 7 cities. It also offered an estimated 45,000 rides a day in total
The services provided by Shuttle are easily accessible via its mobile App through 3 simple steps. First an account is opened on the app, then the boarding point, time and drop point are selected and finally, you can access your ride pass. The customers can choose between passes worth ₹1,800 and ₹2000 for 30,40 or 20 rides per month. The drivers receive a payment for each trip that they make, with them making an average of ₹5000 per two trips. Commissions and salaries are paid to the drivers, irrespective of the number of trips made by the customers.
Shuttle raised its first round of funding merely 3 months since the start of operations. The company has also consistently attracted investors in the previous financial year, with it raising $11 million (₹75.5 crores) in July 2018 as a part of the series B funding round. This funding round was led by Amazon’ Alexa fund and Dentsu Ventures. It also received a venture debt of $1.3 million (9.2 crores) from Trifecta Capital, in January of this year.
