Chalo, an Indian startup that is digitizing Indian bus commuting Recently raised $ 40 million in a funding round, Got Amazon-backed app-based office commuter bus aggregator Shuttl The two said on Tuesday in a full cash transaction.
Mohit Dubey, founder and CEO of Chalo, said the acquisition of Shuttl, which operates thousands of buses for working professionals, is where his startup is located in many parts of the country, including big cities. He said it would help to increase the feeling and strengthen the efforts of both companies to expand overseas.
“Shuttl and Chalo, these are the companies that are positioned to be the largest mobility companies in the world. I wish there was no pandemic, but two companies with similar focus would come together. It made it possible, “he said in an interview with TechCrunch.
Dubey refused to disclose the financial terms of the transaction, but Shuttl co-founder and CEO Amit Singh said he agreed to continue his journey. Charo will continue to use the Shuttl brand, he said.
“We started by getting rid of the pain of our daily commuters. In the process, we built categories and encouraged others in different parts of the world to do the same. It’s a bittersweet moment for us. We believe the Shuttl team and Legacy will work just as well with the new setup, “Singh said in a statement.
According to data intelligence platform Tracxn, Shuttl has raised more than $ 97 million in a series of funding rounds. The startup counts Amazon, Times Internet, Sequoia Capital India, Lightspeed Venture Partners, and Toyota as backers.
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India’s Chalo acquires Amazon-backed bus aggregator Shuttl – TechCrunch Source link India’s Chalo acquires Amazon-backed bus aggregator Shuttl – TechCrunch