Shuttle Reels in Whopping $750k as Seed Money

Siam MurshedJune 1, 20211 Mins read1.2k

Shuttle Reels in Whopping $750k as Seed Money

There are very few millennials in urban Bangladesh, that is not familiar with the ride-sharing startup Shuttle. Ever since its journey started in 2018, it has been serving employees of organizations faithfully and efficiently. Moreover, Shuttle has been synonymous with safety for thousands of working women daily. It provides a safe and comfortable commute for them at an affordable rate.

Reportedly, Shuttle’s latest feat shows the news of its success spreading nationwide. They have successfully collected $750,000 in the seed round led by Accelerating Asia. This recent amassing brings up their funding to a staggering $1 million. The seed round featured some of the most prominent players in the market including Robi Axiata, Bangladesh Angels Network, and Impact Collective. Moreover, individuals from competing brands like Uber and the co-founder and managing director of Foodpanda Bangladesh were also participants in that round.

Shuttle prizes their success with their ability to understand the needs of people. Although it started as an establishment that specifically catered to women, it soon branched out. The pandemic created an opportunity for the brand to provide its services to business organizations as well. Their strict monitoring of the COVID guidelines made it a safe haven for employees. “Shuttle for Women” now has a loyal client base of 20,000 women with more than a million rides under its belt.

Shuttle remains optimistic that more funding is on the way for them. It’s expecting as much as $100,00 in the form of private funds. The beneficiary behind this funding is Biniyog Briddhi. It is a public-private partnership between the Embassy of Switzerland in Bangladesh, LightCastle Partners, and Roots of Impact.

For more updates, be with Markedium.

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Siam Murshed

Siam Murshed is someone who easily qualifies as an oddball. Although the literature is firmly placed in his heart, he is driven by a great passion to understand what attracts humans. With a combination of a thirst for research and a proclivity for content marketing, he is what you can call “Made for Marketing”.