What is Shuttle?
Founded in 2018, Shuttle addresses the critical need for safe and affordable transportation in Bangladesh. Initially launching with a women-only service to combat the lack of secure commuting options for women in Dhaka, the company has since expanded its offerings. Shuttle operates air-conditioned minivans designed to accommodate 10-11 passengers, providing a cost-effective alternative to ride-sharing services, with fares reportedly less than one-fourth of typical ride-sharing costs. The company's commitment to safety and affordability has garnered positive user responses, positioning it as a key player in the urban mobility sector.
How much funding has Shuttle raised?
Shuttle has raised a total of $2.3M across 2 funding rounds:
Angel/Seed
$750K
Unspecified
$1.5M
Angel/Seed (2022): $750K with participation from Accelerating Asia, IMPACT Collective, Bangladesh Business Angel Network, and Robi Axiata Limited
Unspecified (2022): $1.5M led by Bangladesh Angels Network, Accelerating Asia, South Asia Tech, and Startup Bangladesh
Key Investors in Shuttle
Accelerating Asia
Accelerating Asia Ventures is a venture capital accelerator focused on early-stage startups in Southeast and South Asia, providing capital and partnership to help founders grow.
Startup Bangladesh
Startup Bangladesh Limited is the flagship venture capital fund of the ICT Division, sponsored by the Bangladesh Government, aiming to foster innovation and entrepreneurship through investment and support to startups.
IMPACT Collective
IMPACT Collective is a global events company specializing in event management, marketing, and public relations, known for delivering tailored solutions and integrating social responsibility into its business model.
What's next for Shuttle?
The substantial enterprise-level funding and recent strategic investment indicate Shuttle is poised for significant scaling and market penetration. This capital will likely be directed towards expanding its fleet, enhancing its technological infrastructure for route optimization and user experience, and potentially broadening its service areas within Bangladesh and possibly beyond. The company's focus on a niche yet vital market segment, coupled with its demonstrated ability to attract significant backing, suggests a strategic push to solidify its leadership in shared mobility solutions. Future developments may include further service diversification and strategic partnerships to amplify its reach and impact.
See full Shuttle company page
